Business News | CSIR, OIL Ink MoU for Tech Collaboration in Energy Value Chain
Get latest articles and stories on Business at LatestLY. The objective of the MoU is to facilitate collaboration for research across advanced technologies.
New Delhi [India], April 22 (ANI): The Council of Scientific and Industrial Research (CSIR) and Oil India Ltd signed a Memorandum of Understanding (MoU) to pursue technological partnerships in areas across the energy value chain.
As part of the MoU signed on Friday, there will be a collaborative arrangement between labs of CSIR and OIL. The umbrella MoU establishes a formal framework for collaboration between OIL and CSIR labs.
The objective of the MoU is to facilitate collaboration for research across advanced technologies.
The preliminary areas identified for joint R&D activities and technology partners include new areas in hydrocarbon exploration, upstream and downstream operations, new and renewable energy, batteries/storage systems, green and renewable hydrogen/biohydrogen (H2), extraction of lithium and rare earth elements from oilfield water, among others.
"OIL has a long association with CSIR labs like IIP and NEIST and has been working together in past. The present MoU will open the gateway for collaboration with all the labs of CSIR. OIL being an integrated energy company intends to be at the forefront in terms of technology adoption in the energy value chain with a global presence providing value to the stakeholders. The collaboration with CSIR would play a catalytic role to achieve these objectives in mission mode," CMD OIL Ranjit Rath said.
As part of the MoU, both organizations have also agreed to work towards capacity building through training and skill development.
"CSIR is a premier R&D Organization engaged in cutting-edge R&D and developing technologies & products in frontiers areas of Science and technology. CSIR is known for its capabilities and competency in Industrial R&D. Thus, this collaboration would not only be mutually rewarding but also beneficial for the country and the common man in the long term," said N Kalaiselvi, DG Council of Scientific and Industrial Research (CSIR) and Secretary Department of Scientific and Industrial Research (DSIR). (ANI)
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