Oil India Limited (OIL) signed a Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore Limited (FACT), a public sector company, on 22nd of February, 2024 at its Corporate Office, Noida to explore opportunities in the domain of Green Hydrogen, including Green Ammonia / Green Methanol and other derivatives; to collaborate in decarbonizing initiatives like carbon dioxide sequestration; and to collaborate in any other potential avenues for decarbonization / clean energy transition / green fuels / renewable energy etc. that may present synergy between the parties and serve common business interests.

The MoU was executed by Santanu Kumar Saikia, General Manager (Business Development) on behalf of OIL and R Manikkuttan, Executive Director (Production Co-ordination) on behalf of FACT in presence of CMD, Directors of OIL, Director (Finance) of FACT and other senior officials of OIL and FACT.