IIT, ONGC ink MoU to develop indigenous technologies to enhance oil exploration
Indian Institute of Technology (IIT) and the Oil and Natural Gas Corporation (ONGC) have signed a Memorandum of Collaboration to develop indigenous technologies to enhance oil exploration.
It was signed in the presence of the Union Minister of Human Resource Development Smriti Irani and the Minister of State for Petroleum and Natural Gas Dharmendra Pradhan in New Delhi.
Key facts
- As per Memorandum of Collaboration both parties will work towards a collective Research and Development Programme.
- This programme will aim for developing indigenous technologies to enhance exploration and exploitation of hydrocarbons and alternate sources of energy.
- It is a long-term initiative between both parties for sustained research, development and capacity building.
- It will provide a multi-pronged approach that will help to foster research capability and transform experiential based learning in oil exploration sector.
- It will also help to realize full potential of India’s inherent strengths to develop indigenous technologies in order to make country global leader in this sector.
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Month: Current Affairs - January, 2015