Oil India Limited (OIL) and FACT Forge Green Partnership

Noida, February 22, 2024 Oil India Limited (OIL) has inked a historic Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore Limited (FACT), a prominent public sector company. The agreement, signed at OIL’s Corporate Office in Noida, signifies a strategic alliance to explore diverse opportunities in the Green Hydrogen domain.

The MoU encompasses collaborative efforts to delve into the realms of Green Hydrogen, encompassing Green Ammonia, Green Methanol, and other derivatives. Moreover, the partnership will extend its reach into decarbonizing initiatives, including carbon dioxide sequestration. Both entities are committed to exploring potential avenues for decarbonization, clean energy transition, green fuels, and renewable energy.
Key Signatories:
The MoU was formally executed by Shri Santanu Kumar Saikia, General Manager (Business Development) representing OIL, and Shri R Manikkuttan, Executive Director (Production Co-ordination) representing FACT. The signing ceremony witnessed the presence of the CMD, Directors of OIL, the Director (Finance) of FACT, and other senior officials from both organizations.

Conclusion 

This collaboration between OIL and FACT marks a significant step toward sustainable and environmentally friendly initiatives, reflecting their shared commitment to green energy and decarbonization.