Oil and Natural Gas Corporation (ONGC) has secured board approval for a project to expand India’s strategic petroleum reserves by 1.75 million tonnes.
The new storage capacity will be located in Mangaluru, adding to the nation’s existing underground cavern infrastructure on the east and west coasts.
33 million tonnes across three sites, with two additional facilities under construction that will add a further 6.
The expansion is part of a broader effort to enhance India’s energy resilience.
Current strategic reserves total 5.33 million tonnes across three sites, with two additional facilities under construction that will add a further 6.5 million tonnes of storage space.
The Mangaluru project represents a significant incremental step in securing supply buffers against global market disruptions.
The decision comes as global oil supply dynamics shift.