Oil India and Canadian PTRC Announce Collaboration Framework to Advance CCUS and Geothermal Projects
Oil India Limited (OIL) and the Petroleum Technology Research Centre (PTRC), a not-for-profit energy research company from Saskatchewan, Canada, have signed a collaboration framework focused on addressing global challenges related to energy transition and sustainability.The partnership was established during the Global Energy Show 2026 in Calgary, marking a move to strengthen friendly relations between India and Canada. OIL, a Maharatna CPSE under the Ministry of Petroleum & Natural Gas, Government of India, will partner with PTRC in areas including Carbon Dioxide Capture, Utilization and Storage (CCUS), Geothermal energy development, Clean Energy Technologies, and collaborative research with mc2+ for startups.
The signing event was attended by senior officials from both organizations, including the Premier of Saskatchewan Hon'ble Scott Moe, the High Commissioner of India to Canada, the CEO of PTRC, the CMD of OIL, and other dignitaries.
The collaboration framework encompasses several key domains designed to harness sustainable energy solutions. These include:
- Carbon Management: Utilization of captured CO2 for permanent storage through geological sequestration and mineralization within geological formations.
- Energy Recovery: Implementing innovative enhanced oil recovery (EOR) methods aimed at reducing the environmental footprint and energy consumption associated with oil and gas production.
- Opportunity Identification: Working together through established networks specific to both OIL and PTRC to identify potential business opportunities in both countries.
- Geothermal Focus: Identifying mutual interest geothermal projects for study and participation.
Furthermore, Oil India Limited and PTRC will engage in collaborative research concerning subsurface energy production and subsurface storage via the Energy Innovation Hub lab. The partnership also extends to research interests with mc2+ startups, a platform created under the aegis of the Ministry of Petroleum & Natural Gas, Government of India.
OIL Stock Price Movement
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