The Company has entered into an Agreement with Coastal Refinery Limited (CRL) to install jointly the country’s first Single Point Mooring (SPM) facility located in a suitably deep part of the Arabian Sea at a distance of approximately 15 kilometers from the Refinery. CRL is responsible for installing the SPM buoy and the Company (BPL) is responsible for installing the sub-sea PLEM and laying of the sub-sea pipeline ( along with an on-shore pipeline segment) connecting the Buoy to the Bosicor’s refinery’s crude oil tank farm. The pipeline project will be completed in 2009-10.

The engineering of this project is being performed by M/s Innovative Pipeline Services USA. They have completed the ocean sonar survey to finalize the route. Presently they are in the final stage of design and procurement. Construction activities are expected in the 2nd quarter 2009.

The company presently receives its imported Crude Oil at the Fauji Oil Terminal and Distribution Company Limited (FOTCO) Jetty at port Qasim. This crude oil is transported to the Refinery by road going bowzers. The new facility will save these costs, reduce the environmental impact and will facilitate freight savings from utilizing larger sized crude oil tankers.