Oil India Limited signs MoU with University of Houston
Posted on:06 Oct 2016 18:00:42
06 October 2016 Current Affairs GK: Oil India Limited (OIL) has signed Memorandum of Understanding (MoU) with the University of Houston (USA), one of the leading universities on oil and gas of the world on 5 October 2016.
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.
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