Oil India Limited (OIL) has signed a collaboration framework with Canada’s Petroleum Technology Research Centre (PTRC) to advance energy transition and sustainability. The agreement focuses on critical areas such as CO2 Capture, Utilization, and Storage (CCUS), geothermal energy, and clean energy technologies. This partnership aims to foster innovation, identify new business opportunities, and support start-ups in the evolving energy landscape, strengthening the India-Canada energy relationship.
Strategic Energy Collaboration
Oil India Limited (OIL), a Maharatna CPSE under the Ministry of Petroleum & Natural Gas, has established a significant collaboration framework with the Petroleum Technology Research Centre (PTRC), a not-for-profit energy research company from Saskatchewan, Canada. This partnership aims to strengthen friendly relations between Canada and India while addressing global challenges related to energy transition and sustainability. The agreement was signed on June 10, 2026, on the sidelines of the Global Energy Show 2026 in Calgary.
Key Areas of Focus
The collaboration will delve into several critical domains within the energy sector:
- Utilization of captured CO2, including permanent storage through geological sequestration and mineralization.
- Development of innovative enhanced oil recovery (EOR) methods to reduce environmental impacts and energy consumption in oil and gas production.
- Exploring and identifying potential geothermal projects of mutual interest for study and participation.
- Collaborative research on subsurface energy production and storage, involving OIL and PTRC’s Energy Innovation Hub.
- Fostering research interests with mc²+ for start-ups, a platform under the Ministry of Petroleum & Natural Gas, Government of India.
Business Opportunities and Innovation
Furthermore, OIL and PTRC will work together to identify business opportunities by leveraging their established networks and partners in both countries. This initiative is expected to spur innovation and create new avenues for growth in the clean energy sector, underscoring a commitment to sustainable energy solutions and technological advancement.
High-Profile Attendance
The signing event was graced by distinguished attendees, including The Premier of Saskatchewan, the Hon’ble Scott Moe, the High Commissioner of India to Canada, the CEO of PTRC, the CMD of OIL, and other senior officials, highlighting the strategic importance of this partnership.
Source: BSE
