IndianOil Chairman, Mr. Sanjiv Singh, executed the agreement alongside SC Mishra, CMD, OIL in the presence of Dr. SSV Ramakumar, Director (R&D), IndianOil; Akshay Kumar Singh, Director (Pipelines), IndianOil; SM Vaidya, Director (Refineries), IndianOil; PK Sharma, Director (Operations), OIL, and senior officials from IndianOil and OIL.
The two mega corporates intend to collaborate in developing Carbon Capture, Utilisation and Storage (CCUS) as an effective emissions mitigation tool to combat climate change. Injecting carbon dioxide (CO2) into oil reservoirs for effecting Enhanced Oil Recovery (EOR) offers a potentially attractive way to spur greater CCUS action to support climate change-related carbon storage objectives as well as improve oil-well productivity.
It is proposed that CO2 captured from the flue-gas stacks of Hydrogen Generation Unit & Gas Turbine power plant at Digboi Refinery will be transferred to the Nahorkatiya & Dikom oil fields of OIL in Assam, located approximately 50 – 60 km from Digboi.
Speaking on the occasion, Mr. Sanjiv Singh said, "Enhanced oil production from depleting wells using CO2 captured from refineries is a pioneering initiative in India. Expeditious implementation should be ensured to quickly exploit & scale up this initiative."
Addressing the dignitaries, Mr, SM Vaidya asserted that, “Carbon capture for EOR extends the productivity of mature oil fields and is in line with our Prime Minister’s clarion call for reducing crude oil imports. It is also a step in the direction of mitigating ‘climate emergency’ that our planet faces.”