Oil India Ltd (OIL) and Canada's Petroleum Technology Research Centre (PTRC) have signed a collaboration framework to jointly explore carbon capture, utilization and storage (CCUS), geothermal energy, and other clean energy technologies. The agreement, signed on June 10 in Calgary, aims to deepen energy cooperation between India and Canada as both countries pursue energy transition and sustainability goals. The partnership will focus on geological sequestration and mineralization of captured CO2, enhanced oil recovery with a reduced environmental footprint, and joint research through OIL and PTRC's Energy Innovation Hub. They will also evaluate potential geothermal projects and identify business opportunities through industry partnerships and research networks. The deal includes engagement with mc2+, India's petroleum ministry-backed startup platform.
