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MoU Between OMCs and IIT Bombay to spur R&D in India’s energy industry

MoU Between OMCs and IIT Bombay to spur R&D in India’s energy industry
MoU Between OMCs and IIT Bombay to spur R&D in India’s energy industry

New Delhi: To spur innovation and to give a competitive advantage to India’s oil and gas industry, oil public sector undertakings (PSUs), along with Engineers India Ltd (EIL), have joined hands with Indian Institute of Technology (IIT), Bombay, to set up a Centre of Excellence in Oil, Gas and Energy. A Memorandum of Understanding (MoU) in this regard was signed between director of IIT Bombay, Devang Vipin Khakhar and CMDs of PSU Oil Companies (IOC, BPCL, HPCL, ONGC, GAIL and OIL) and EIL in the presence of Union Minister of Petroleum & Natural Gas Dharmendra Pradhan and MoP&NG secretary MM Kutty on January 2.

MoU Will Fix The Missing Link

Speaking on the occasion, Pradhan said that the MoU will meet the needs of Mission Green as it will encourage research and development (R&D) in the sector. Citing the discovery of shale gas as an example, Pradhan said, “The US discovered shale oil because of its universities. And India has one of the best set of academics in the country. Therefore, so can we.” While noting that the technological and industrial changes were happening very fast, Pradhan said that the coming together of the academic and industrial organisations will yield results.

“We should strive to be leaders in biomass conversion and Hydrogen-based energy. IIT Bombay, being the premier institute, should provide the missing link and help in evolving new strategies in the sector”

He also said, “Energy is the prime requirement for all activities in the modern world. Indian appetite for energy is increasing day by day, and we have to provide for clean, affordable and accessible energy sources. There is a need for mass production through domestic sources, and distribution through decentralisation.”

'Strive to be the world leader'

The minister said that India is a large energy market, and effort should be made to develop its own petroleum standards. “We should strive to be leaders in biomass conversion and Hydrogen-based energy. IIT Bombay, being the premier institute, should provide the missing link and help in evolving new strategies in the sector,” he added.

The Centre of Excellence is aimed at collaborative research and capability building in areas of oil, gas and energy. It will work towards developing sustainable solutions and explore new frontiers in technology for future energy needs. The Centre will also provide an institutionalised platform for industry-academia interactions.