Oil India Limited (OIL), an Upstream Oil & Gas PSU, with intent of augmenting its reserves base and maximising recovery from its aging oilfields, has entered into a Memorandum of Understanding with the University of Houston(USA), one of the leading universities on oil and gas of the world. The MoU was signed today in presence of Sh. Dharmendra Pradhan, Minister of State (I/C), Petroleum & Natural Gas in New Delhi.
The MoU, amongst others, is focused to collaborate in the fields of Improved Oil Recovery & Enhanced Oil Recovery for production enhancement from matured fields, seismic interpretation & reservoir characterisation studies, improvement of drilling and well intervention practices and unconventional hydrocarbon studies.
It is envisaged that the collaboration will help OIL to further consolidate and upgrade the various initiatives the Company has undertaken to improve production and contribute significantly to the energy security of the country. This will also contribute towards national obligation as set by Hon’ble Prime Minister to reduce import dependency of oil and gas by 10% by 2022.