Oil India Ltd and Canada's Petroleum Technology Research Centre (PTRC) signed a framework agreement on June 10 in Calgary to jointly explore carbon capture, utilization and storage (CCUS), geothermal energy, and other subsurface clean energy technologies. The deal aims to deepen energy cooperation between India and Canada as both countries pursue their energy transition goals. The collaboration will focus on geological sequestration and mineralization of captured CO2, development of enhanced oil recovery technologies to reduce the environmental footprint of oil and gas production, and identification of business opportunities through industry partnerships. The agreement also includes engagement with mc2+, India's petroleum ministry-backed startup platform, to drive innovation-led research. For carbon markets and climate watchers, this is a notable cross-border R&D pact between a major Indian oil PSU and a Canadian not-for-profit research centre. The emphasis on permanent CO2 storage and reduced-emission EOR could have implications for carbon credit methodologies if the technologies scale. No timelines or funding amounts were disclosed in the announcement.
