Go for it! Perhaps use a holesaw blade with a central drill point, but replace the drill with a stud. Drill off centre so that the stud butts up to the tank and set the gap to the steel depth. Should let you cut out a biscuit of steel without penetrating the tank?
(Edit) you would obviously need to drill a guide hole for the stud, but easily done using a drill bit with a collar first to the same depth setting).
Go for it! Perhaps use a holesaw blade with a central drill point, but replace the drill with a stud. Drill off centre so that the stud butts up to the tank and set the gap to the steel depth. Should let you cut out a biscuit of steel without penetrating the tank?
(Edit) you would obviously need to drill a guide hole for the stud, but easily done using a drill bit with a collar first to the same depth setting).