ICSA, Oil India form JV

ICSA (India) Limited and state-owned Oil India Limited (OIL) have announced a strategic joint venture to procure, market and undertake projects in India and abroad in the field of engineering, for pipeline intelligent Cathodic Protection (iCAP) technology and related projects.

The iCAP is a wireless embedded real time system developed for pipeline applications to monitor, analyse and display in real time the data of cathodic protection parameters for all types of existing and new cross country pipelines.

Under the terms of the deal, the two companies have agreed to incorporate a new company within 12 months of the execution of the signed agreement, according to a press release.

ICSA (India) Limited, an embedded solutions provider for the energy sector, is a Hyderabad-based public limited company listed on the Mumbai and Hyderabad stock exchanges.

"The innovative technology involved in iCAP system improves efficiency of conventional Cathodic Protection, forecasts pilferage/pipeline tampering in real time and improves the life of pipelines to achieve design life and eliminates the requirement of expensive conventional measurements. This system is cost-effective and meets international standards and compatibility," Bala Reddy, managing director of ICSA, stated in the press release.

Commenting on the partnership, Pasrija, chairman and managing director of OIL, said:"Oil India strongly believes that this unique technology offering provides considerable advantages to the pipeline industry in general and has an immense business potential."

According to him, the joint venture is the culmination of successful field testing of the new technology carried out over a 50-km pipeline in the Jagiroad and Guwahati sector.

OIL, which operates and maintains a cross country pipeline of about 1,800 km long in Assam, Bihar and West Bengal, is engaged in the business of exploration, production and transportation of oil and gas

While the terms and conditions relating to the formation of the company are yet to be finalised, a core group from both the companies will be conducting the day-to-day operations of the joint venture, the press release said.