Oil and Natural Gas Corporation Limited (ONGC) has signed a MoU with global petroleum giant Shell for cooperation in Carbon Capture, Utilization and Storage (CCUS) studies. The collaboration shall focus on joint CO2 storage study and EOR screening assessment for key basins in India including depleted oil and gas fields, saline aquifers.

The MoU was signed by ONGC CMD R K Srivastava and Chairman of Shell Group of companies in India Nitin Prasad in the presence of senior executives of both the companies. The MoU was exchanged in the presence of Secretary, Ministry of Petroleum and Natural Gas Pankaj Jain.

The MoU is aimed at developing CCUS/CCS as an emissions mitigation tool for combating climate change and injecting carbon dioxide (CO2) for geological storage as well as enhanced oil production from mature fields of ONGC.