ONGC receives first dividend payout from its ONGC Teri BioTech shares

The Energy and Resources Institute (TERI) and Oil and Natural Gas Corporation Limited (ONGC) collaboration happens in 1996 for a sustainable future.

ONGC receives first dividend payout from its ONGC Teri BioTech shares
ONGC receives first dividend payout from its ONGC Teri BioTech shares

New Delhi: Maharatna ONGC receives the first dividend payout of Rs 1,12,45,000 from its shares in ONGC Teri BioTech. The share of ONGC in this partnership is 49.98% and that of TERI Bio-Tech is 48.02%. 

The Energy and Resources Institute (TERI) and Oil and Natural Gas Corporation Limited (ONGC) collaboration happens in 1996 for a sustainable future. A long success story of the collaboration between ONGC and TERI culminated in the formation of ONGC TERI Biotech Limited (OTBL) in 2. 

OTBL: economic-ecological solutions

TERI, a leader in the field of bioremediation of oil spill sites, has been providing such services to ONGC. To use bioremediation technology as well as other biotechnology solutions such as Microbial Enhanced Oil Recovery (MEOR) and Wax Deposition Prevention (WDP) on a large scale in oilfield installations, a joint venture “OTBL” was formed between TERI and ONGC. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.