Indian energy major ONGC has joined hands with Indian Oil Corporation for enhanced oil recovery by injecting carbon dioxide captured from IOC's Koyali refinery in Gujarat. The memorandum of understanding is aimed to establish a framework for mutually beneficial cooperation in carbon dioxide-based enhanced oil recovery as a mode of carbon capture utilization and storage (CCUS). "The common objective is to address some of the biggest challenges of our country in particular and world at large, namely energy security and climate change," ONGC said in a statement. "It is a landmark event in the history of Indian hydrocarbon industry, with two its largest conglomerates agreeing to jointly work on CCUS," it added.
