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Sep 18, 2025

Transaction counsel to Indian Strategic Petroleum Reserve Limited (ISPRL)

AZB & Partners acted as transaction counsel to Indian Strategic Petroleum Reserve Limited (ISPRL), a Government of India enterprise, in structuring and drafting the complete suite of bid documents that culminated in the successful award of the development of the 2.5 MMT Padur Phase II Strategic Petroleum Reserve to Megha Engineering & Infrastructure Limited on a public-private partnership basis (DBFOT). Padur Phase II is the first strategic crude-oil cavern in the country to be developed under a PPP model. When operational, it will extend India’s strategic crude-oil cover by an additional 12 days, taking total reserve capacity from 10- to 22 days, according to the Ministry of Petroleum and Natural Gas.

Our deal team comprised our Senior Partner Anuja Tiwari, Partner Mallika Anand, Senior Associate Aman Raj and Associate Shikhar Thukral.

https://lnkd.in/dv2ddeqd

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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