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Corporate
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Alliances & Joint Ventures
ONGC, Norwegian oil co ink pact
New Delhi, Feb. 7
ONGC has signed a memorandum of understanding
(MoU) on Thursday with Norwegian oil and gas
major StatoilHydro ASA to develop projects on carbon
capture and sequestration (CCS), clean development
mechanism (CDM) and other carbon management
projects related to climate change and sustainable
development. Under the MoU, ONGC and StatoilHydro
will jointly screen and analyse potential CCS and CDM
projects and prepare decision documents relevant for the
selected projects. StatoilHydro will provide expertise in
CCS technology, besides providing advice and
technological support on mutually agreeable terms in the
development and implementation of ONGC's climate
change ambition into feasible programmes, a statement
issued by ONGC said. ONGC, in turn, will consider Statoil
as a development partner for any project identified as a
result of the activities described in the MoU. - Our
Bureau
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