State-owned ONGC has granted in-principle approval to develop a 1.75 million-tonne strategic petroleum reserve at Mangaluru, aimed at strengthening India's emergency crude oil storage capacity.

The project will be developed as the Phase-I expansion of the existing Mangaluru strategic petroleum reserve and will include associated infrastructure.

ONGC also said its board has authorised the company to engage with the Central Government on expanding the commercial utilisation of the facility, subject to the necessary regulatory approvals. The company did not disclose the project's cost or implementation timeline.