The Oil and Natural Gas Corporation Limited (ONGC) has signed a memorandum of understanding (MoU) with Shell to collaborate on carbon capture, utilisation, and storage (CCUS) research. This collaboration intends to focus on a joint carbon dioxide storage study and enhanced oil recovery screening assessment for key Indian basins such as depleted oil, gas fields and saline aquifers.
Further, it aims to develop CCUS or CCS as an emissions mitigation tool for combating climate change, as well as injecting carbon dioxide for geological storage and enhanced oil production from ONGC’s mature fields.
Recently in November 2022, a study report was released by NITI Aayog named ‘Carbon Capture, Utilisation, and Storage Policy Framework and its Deployment Mechanism in India’. The report explores the importance of CCUS as an emission reduction strategy to achieve deep decarbonisation. The report also outlined broad level policy interventions needed across various sectors for its application.