Oil India Limited (OIL), a Maharatna Public Sector Enterprise, signed a strategic collaboration framework with Canada’s Petroleum Technology Research Centre (PTRC) on June 10, 2026, to advance clean energy technologies. Finalized during the Global Energy Show in Calgary, the partnership focuses on critical areas including carbon capture, geothermal energy, and subsurface storage solutions. This alliance marks a significant step in strengthening India-Canada energy ties while supporting Oil India’s internal roadmap to achieve net-zero emissions by 2040.
Key Focus Areas of the Collaboration
The collaboration between Oil India and PTRC is built on a shared commitment to sustainable energy production and decarbonization. The framework agreement outlines several priority domains where Canadian subsurface expertise will be combined with Oil India’s operational experience in the exploration and production sector.
The primary focus areas include:
- Carbon Capture, Utilisation, and Storage (CCUS): Implementation of geological sequestration and mineralization to safely store carbon dioxide underground.
- Geothermal Energy: Evaluation of high-potential geothermal sites for commercial power generation and direct heat use.
- Enhanced Oil Recovery (EOR): Developing low-emission EOR techniques that reduce the energy intensity of traditional oil production while increasing resource recovery.
- Subsurface Hydrogen Storage: Joint research on using geological formations as large-scale reservoirs for hydrogen, a critical component of the future green energy mix.
This cooperation is facilitated through PTRC’s Energy Innovation Hub, which serves as a center for research into low-carbon technologies and subsurface energy management.
Strengthening India’s Carbon Capture Capabilities
Carbon Capture, Utilisation, and Storage (CCUS) is a vital technology for India to reach its 2070 Net Zero target. The partnership with PTRC allows Oil India to leverage Canada’s leadership in the Aquistore project, one of the world’s most advanced carbon dioxide storage sites. By applying these learnings to Indian geological conditions, OIL aims to develop large-scale carbon sequestration hubs.
A key aspect of this research is mineralization, a process where captured carbon dioxide reacts with specific rock types to form stable solid minerals. This method ensures that the carbon is permanently locked away, eliminating the risk of leakage over thousands of years. OIL is already investing approximately ₹1,000 crore in CCUS initiatives, using the captured carbon for Enhanced Oil Recovery (EOR) to maintain production levels while reducing net emissions.
Tapping into Geothermal Energy Potential
Geothermal energy, which harnesses the heat from within the Earth, represents a reliable and continuous source of renewable power. Unlike solar or wind, geothermal energy is not dependent on weather conditions, providing a steady base-load power supply. Through this collaboration, Oil India and PTRC will evaluate the technical and commercial feasibility of geothermal projects in various Indian states.
The partnership aims to identify hot dry rock (HDR) systems and hydrothermal reservoirs that can be converted into energy-producing assets. OIL is also collaborating with other national entities like NTPC to fast-track the deployment of geothermal technology. This focus on geothermal energy is part of the company’s broader plan to build 5.5 GW of renewable energy capacity by 2040.
Role of mc²+ and Startup Innovation
A unique feature of this collaboration is the integration of mc²+, the startup platform established by India’s Ministry of Petroleum and Natural Gas. This platform aims to bridge the gap between academic research and commercial application by fostering innovation from emerging Indian startups.
By involving the startup ecosystem, OIL and PTRC intend to accelerate the development of cost-effective and scalable clean energy solutions. The platform will support research in niche areas such as advanced sensor technologies for monitoring carbon storage and low-enthalpy geothermal extraction methods. This multi-layered approach ensures that the collaboration not only benefits large-scale industrial projects but also fuels the growth of India’s local energy technology sector.
Strategic Significance for Oil India’s 2040 Net Zero Goal
For Oil India, this international partnership is a cornerstone of its Project Santulan, an ESG (Environmental, Social, and Governance) strategy launched in 2025. The company has set an ambitious target to achieve Net Zero Scope 1 and 2 emissions by 2040, which is a decade ahead of many global peers.
To achieve this, OIL has committed an investment of ₹25,000 crore (approximately $3 billion) toward clean energy and decarbonization. The roadmap includes not only CCUS and geothermal energy but also massive investments in Green Hydrogen and 2G Bio-ethanol. By diversifying its portfolio, the Maharatna firm is transitioning from a traditional oil and gas producer into a comprehensive energy company capable of meeting India’s future low-carbon demands.
Key Takeaways
- Oil India Limited (OIL) and Canada’s Petroleum Technology Research Centre (PTRC) signed a strategic clean energy collaboration framework in June 2026.
- The agreement was finalized during the Global Energy Show held in Calgary, Canada.
- Primary areas of cooperation include Carbon Capture, Utilisation, and Storage (CCUS), Geothermal Energy, and Subsurface Hydrogen Storage.
- The partnership integrates mc²+, a startup platform under the Ministry of Petroleum and Natural Gas, to drive innovation through Indian startups.
- OIL has committed an investment of ₹25,000 crore to achieve Net Zero Scope 1 and 2 emissions by 2040.
- Research in CCUS will prioritize mineralization, which permanently stores carbon dioxide by converting it into stable solid minerals.
