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Crude oil reserves is going to Setup in Chandikhol of Odisha


Finance Minister Arun Jaitley today in union Budget 2017 announced for construction of Rs 5000 Cr strategic crude oil reserve in Odisha state. Mostly he is said that the first phase process this crude oil reserve is setup in Visakhapatnam, Mangalore, Padur  and now in the second phase this crude oil reserve set up caverns in two more locations that are Chandikhol in Odisha state and Bikaner in Rajasthan state. This crude oil reserve capacity is to 15.33 million metric tonne. Union Petroleum and Natural Gas Minister Dharmendra Pradhan said to media that this project will help odisha to get more economically stronger state.


Pradhan said to media that this project will be build on underground crude oil storage tank in the Chandikhol of Odisha with investment of Rs 5000 crore. Also this storing of crude oil will help country time of high oil and gas prices and also this can be use in the unforeseen events. As per the information the Chandikhol crude oil reserve will be underground rock cavern. Also this types of projects will help to strengthen our country energy sector. Also after this project was welcomed by Odisha Chief Minister Naveen Patnaik  and also MPs of loksabha.
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