New Delhi, Sept. 18 -- State-run Engineers India Ltd (EIL) is eyeing opportunities to develop crude oil and petroleum product pipelines and strategic oil reserves in Saudi Arabia and the United Arab Emirates (UAE), as both countries plan to expand energy infrastructure to bypass the Strait of Hormuz and add storage capacity, chairman and managing director Atul Gupta said.

Talking to reporters on Friday, Gupta said the proposed pipeline projects in Saudi Arabia and the UAE could be worth around $1 billion, with a tentative gestation period of two-three years.

"They (UAE and Saudi Arabia) are now planning for some infrastructure to bypass the Strait of Hormuz. We are also focusing on those infrastructure projects... We have already shown ...