The two companies have agreed to jointly screen possibilities for developing CCS and CDM projects within ONGC’s operations in India. The cooperation could result in CO₂ emissions reduction projects as well as the promotion of energy efficiency and growing use of renewable energy under the mechanisms of the Kyoto Protocol.

ONGC is India’s premier oil and gas company, operating both onshore and offshore. StatoilHydro has a separate agreement with ONGC that gives StatoilHydro access to exploration acreage off India, mostly in deep water.

StatoilHydro is also participating in the development of a European test center for the capture of CO₂ at Mongstad in southwest Norway. (Earlier post.)