The public sector major’s forward-thinking, coupled with a commitment to carbon neutrality, positions it as a key player in the evolving landscape of sustainable energy initiatives
State-backed Oil India is making strides in its commitment to environmental sustainability by embarking on a carbon capture and storage project. The initiative revolves around capturing carbon dioxide (CO₂) emissions from Oil India's natural gas field in Rajasthan and securely storing them in nearby dry wells. This strategic move aligns with the company's goal of achieving net-zero emissions by 2040.
"As part of our net zero plan for 2040, we have identified many initiatives," shared Ranjit Rath with the publication. The Jaisalmer field, where Oil India operates, produces gas with a notable CO₂ content. To maximise the market value of the gas, the company intends to establish a gas-sweetening plant to extract CO₂.
Leveraging its extensive subsurface knowledge and access to multiple dry wells suitable for CO₂ storage, Oil India is well-positioned to execute these carbon sequestration efforts, as outlined by Rath. Preliminary studies have been conducted, and the company is set to engage a consultant to develop a comprehensive feasibility report. This report will delineate the processes involved in carbon capture, transportation, storage, and monitoring.
Five dry wells have been shortlisted, and two have been earmarked for a pilot project that will include dynamic modelling. While acknowledging the critical role of carbon capture, utilisation, and storage technologies, Oil India recognises the associated costs. Globally, most projects in this domain are still in the pilot phase, and India, similar initiatives have encountered financial challenges.
Oil and Natural Gas Corporation (ONGC), in collaboration with Indian Oil, faced hurdles in progressing its project due to elevated costs. ONGC's project involves transporting CO₂ from an Indian Oil refinery in Gujarat to an ONGC oilfield, enhancing oil recovery through injection. Despite financial constraints, international companies like ExxonMobil and ADNOC are investing in carbon capture as a climate solution, aiming to reduce emissions while sustaining fossil fuel production.