ONGC to explore India’s hydrocarbon reserves; Signs MoU with IFPEN

New Delhi/Paris: India's Central Public Sector Undertaking reflecting its commitment to innovation & driving growth in the energy sector, including renewables, ONGC signed a Memorandum of Understanding (MoU) with leading French research & training organization IFP Energies nouvelles also known as French Institute of Petroleum on 12 April 2023 in Paris.

The purpose of this MoU is to explore responsible exploration & development of India’s hydrocarbon reserves through joint research & development, tech transfer & capacity building.

 

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The MoU was signed by Director (Exploration) Sushma Rawat & Chairman & CEO of IFPEN Pierre-Franck Chevet on the sidelines of the India-France Business Summit, commemorating 25 years of India-France Friendship.

There is a major role of hydrocarbons in economic growth which also facilitate meeting the future needs of the country. As India has 26 sedimentary basins covering an area of 3.36 million square kilometres. The last hydrocarbon resources assessment exercise was carried out approximately two decades ago (1995-96).

A Multi Organization Team (MOT) comprising representatives of ONGC, OIL and DGH has carried out an estimation of hydrocarbon resource potential in the country, According to the official website of the Ministry of Petroleum and Natural Gas.

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What is IFPEN

IFP Energies nouvelles (IFPEN) is a major player in research and training in the fields of energy, transport and the environment. From scientific concepts in fundamental research to technological solutions in applied research, technological innovation is at the heart of its action.

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