ONGC plans CCS projects

Oil and Natural Gas Corp (ONGC) is planning a mega carbon capture and storage (CCS) project in collaboration with Norway’s Equinor, which would help capture 1.5 million tonnes of carbon dioxide annually from several emitting industries and store it permanently deep under the seabed off the coast of Gujarat, a company executive said.

The collaboration shall focus on joint CO2 storage study and enhanced oil recovery (EOR) screening assessment for key basins in India including depleted oil and gas fields, saline aquifers.

Oil and Natural Gas Corporation Limited (ONGC) also signed a MoU with global petroleum giant Shell for cooperation in Carbon Capture, Utilization and Storage (CCUS) studies.

The MoU is aimed at developing Carbon capture, utilisation and storage, or CCUS/carbon capture and storage (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.

Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held 58.89% stake in ONGC as of September 2022.