The minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan at the MoU signing for Centre of Excellence in Oil, Gas and Energy between IIT Bombay and PSU Oil Companies, in New Delhi on January 02, 2019. Seen here along with the secretary ministry of Petroleum & Natural Gas, Dr M M Kutty and other dignitaries.
A Memorandum of Understanding(MoU) for setting up a Centre of Excellence (CoE) in oil, gas and energy was signed between the director of IIT Bombay and CMDs of PSU oil companies and Engineers India (EIL) yesterday.
The CoE, which aims to provide a competitive advantage to India’s oil and gas industry, will work in the areas of collaborative research and capability building in oil, gas and energy sector. It will work towards developing sustainable solutions and explore new frontiers in technology for future energy needs.
The CoE will leverage the expertise available with IIT Bombay and the oil and gas industry. It will also provide an institutionalised platform for industry academia interaction. The centre is expected to help in fostering innovations and in developing a future-ready energy industry in India.
Speaking on the occasion, Dharmendra Pradhan, Union Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship said that the new centre will encourage R&D in the sector and also capacity building.
He said that energy is the prime requirement for all activities in the modern world, and consumption of energy in the country is increasing day by day. The country has to provide for clean, affordable and accessible energy sources. He said that there is need for mass production through domestic sources, and distribution through decentralisation.
The minister said the MoU should be outcome based and must have a roadmap for deliverables. He said that India is a large energy market and efforts should be made to develop our own petroleum standards.
"We should strive to be leaders in biomass conversion and hydrogen-based energy. IIT Bombay, being a premier institute, should provide the missing link and help in evolving new strategies in the sector," added Pradhan.