New Delhi, July 2 -- ONGC signed an MoU with IOCL for CO2 based Enhanced Oil Recovery (EOR) by injecting CO2 captured from IOCL's Koyali refinery. The MOU is aimed to establish a framework for mutually beneficial cooperation in the area of CO2-EOR as a mode of CCUS. The common objective is to address some of the biggest challenges of our country in particular & world at large, namely energy security and climate change.

It is a landmark event in the history of Indian Hydrocarbon Industry, with two its largest conglomerates agreeing to jointly work on Carbon Capture Utilization and Storage (CCUS). CCUS is known to be a very effective method of EOR globally and is playing an increasingly important role in achieving the mission of carbon neu...