Oil India Limited (OIL) on 5 October 2016 signed Memorandum of Understanding (MoU) with the University of Houston (USA), one of the leading universities on oil and gas of the world.
The MoU was signed by OIL with an intent of augmenting its reserves base and maximising recovery from its aging oilfields.
Highlights of the MoU
• It is focused to collaborate in the fields of Improved Oil Recovery & Enhanced Oil Recovery for production enhancement from matured fields & reservoir characterisation studies.
• It 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.
• It will also contribute towards national obligation as set by Prime Minister to reduce import dependency of oil and gas by 10% by 2022.
About University of Houston
• Located in the energy capital of the United States of America, University of Houston is home to the leading Oil & Gas operating companies and service providers.
• It 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.
• It has also established well documented partnership with leading edge academia and industry subject matter experts.
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Who: Oil India Limited
When: 5 October 2016