Oil India Ltd (OIL), an upstream oil & gas PSU, on Wednesday entered into a Memorandum of Understanding (MoU) with the University of Houston(USA).
In a statement, the Ministry of Petroleum & Natural Gas said that, “The MoU was signed on Wednesday in presence of Dharmendra Pradhan, Minister of State (I/C), Petroleum & Natural Gas in New Delhi.”
According to an official statement, 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.
The report further added 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 the Prime Minister Modi to reduce import dependency of oil and gas by 10 per cent by 2022.
The University of Houston is a premier institute, involved in the quest of academic and translational excellence in the field of oil & gas through its outstanding faculty and research staff and has established well documented partnership with leading edge academia and industry subject matter experts.