The Single Point Mooring (SPM) mega project built off the southwest coast of Maheshkhali Island at a cost of Tk 8,000 crore has yet to become operational. Completed in August 2024 under the previous Awami League government, the project was designed to unload crude oil directly from large tankers via undersea pipelines. However, a lack of storage facilities and complications in appointing an operator have left it idle, turning it into a major burden for the new government. The project was financed through Chinese loans and implemented by Eastern Refinery PLC with construction by China Petroleum Pipeline Engineering Company Limited.

Officials and experts cited the project as an example of poor planning and politically motivated decision-making during the previous administration. They said the SPM was approved in 2015 without adequate feasibility studies and now faces controversy over tendering for maintenance contracts. Allegations have surfaced that former government-linked officials attempted to influence the process. The current government has pledged to review the project’s viability and investigate any irregularities.

Energy experts warned that without the launch of Eastern Refinery’s second unit, the SPM will remain largely underutilized, despite its potential to reduce oil unloading time and costs.