Oil India Limited (OIL) has entered into a collaboration framework with the Petroleum Technology Research Centre (PTRC), Canada, on the sidelines of the Global Energy Show 2026 in Calgary on June 10, 2026. The framework aims to strengthen bilateral relations between Canada and India in addressing global challenges related to energy transition and sustainability.
The partnership covers cooperation in CO2 Capture, Utilization and Storage (CCUS), geothermal energy, and development of clean energy technologies. OIL and PTRC will also collaborate on research with mc2+, a startup platform created under the aegis of the Ministry of Petroleum and Natural Gas, Government of India. The collaboration spans subsurface energy production, storage, and enhanced oil recovery methods.
The signing ceremony was attended by the Premier of Saskatchewan, Scott Moe, the High Commissioner of India to Canada, the CEO of PTRC, and the Chairman and Managing Director of Oil India Limited, along with other senior officials. PTRC is a not-for-profit energy research company of the Province of Saskatchewan, Canada.
Under the framework, OIL will explore utilization of captured CO2 for permanent storage through geological sequestration and mineralization in geological formations. OIL and PTRC will also work on enhanced oil recovery methods to lessen the environmental impacts and energy use of oil and gas production.
OIL and PTRC will work through their respective networks and partners to identify business opportunities in both countries. The collaboration includes identification of potential geothermal projects of mutual interest for joint study and participation. Collaborative research will be conducted at PTRC's Energy Innovation Hub on projects involving subsurface energy production and storage.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.