Jacobs wins engineering contract for Cavern crude oil storage project in India

Source: Jacobs Engineering

Jacobs Engineering Group Inc. (NYSE:JEC) received a contract from IOT Infrastructure & Energy Services Ltd. (IOT) (formerly Indian Oiltanking) to provide engineering services for the Cavern Project to be built for Indian Strategic Petroleum Reserves Limited (ISPRL). The project is for the storage of crude oil in Visakhapatnam, India. 

Officials did not disclose the contract value, however they indicated that the total installed cost of the project is estimated at US $65 million. IOT is executing the project on an EPC basis for ISPRL. Jacobs will perform engineering services from their offices in India. 

Indian Oiltanking, founded in 1997, is a joint venture between Indian Oil Corporation Limited and Oiltanking GmbH.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs