After remaining idle for nearly two years, the billion-dollar Single Point Mooring (SPM) project at Moheshkhali in Cox’s Bazar is finally moving toward operation.
The government has set a target to launch the facility within the next six months, aiming to restore momentum to the country’s fuel supply system.
Once operational, the SPM will enable the transfer of up to 100,000 metric tonnes of oil from deep-sea vessels to onshore facilities within just 48 hours through a pipeline system—significantly reducing unloading time compared to conventional methods.
Despite their completion, six large storage tanks at the Moheshkhali site have remained unused.
Three of them have a combined capacity of around 126,000 metric tonnes of crude oil, while the remaining three can store up to 75,000 metric tonnes of diesel.
The state minister for power and energy recently visited the project site and expressed optimism about its activation.
He said that appointing an operations and maintenance contractor is now a priority, and steps are being taken to ensure the project becomes functional within the government’s 180-day action plan.
Avoiding direct comments on responsibility for the prolonged delay, the minister emphasized focusing on solutions rather than accountability.
He noted that the project, valued at approximately Tk 80–85 billion, has remained idle for such a long time, causing significant losses to the state.
According to officials, the SPM system will streamline fuel handling by allowing oil to be offloaded directly from large mother vessels via pipelines, cutting the usual 11–12 days required under traditional lighting methods to just 2 days.
The Managing Director of the Petroleum Transmission Company said the facility would also serve as a strategic reserve, enhancing the country’s energy security.
Modern storage capabilities allow for the stockpiling and emergency use of large volumes of fuel.
Project insiders estimate that once operational, the SPM will be able to handle around 9 million tonnes of fuel annually, saving nearly Tk 8 billion in costs related to time, transport, and system inefficiencies.
Officials believe that the timely completion of the project will significantly improve Bangladesh’s fuel management system and ensure more efficient utilization of national resources.
Cox’s Bazar Life Report
Photo: Courtesy
