Duliajan, Oct 13 (PTI) Oil India Ltd and five leading universities of the Northeast have signed a memorandum of understanding to create meaningful industry-academia collaboration.

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The main objective of the MoU is to boost research and development capabilities in the universities and to enhance the understanding the region’s geology, the central PSU said in a release on Thursday.

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The OIL signed the agreement with Gauhati University, Dibrugarh University, Manipur University, Nagaland University and Rajiv Gandhi University at the Field Headquarters in Duliajan, Assam, on Wednesday.

OIL chairperson Ranjit Rath pointed out the need for such strategic collaborations to synergise diversified efforts from the industry and academia.

Rath said it was necessary for capacity building and meeting growing demand of oil and gas, creating new ventures for an energy-efficient India in the future.

The main focus of the agreement is in line with the Hydrocarbon Vision 2030 to build a platform for industry-academic collaboration, which can go a long way in not only creating skilled and effective workforce, but also working together for the nation's energy security.

Rath added that the academic expertise of these prestigious institutions would support the firm’s business activities, while the OIL's practical competence would aid academic research.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)