Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) have signed a memorandum of understanding (MoU) to establish a small-scale Liquefied Natural Gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin. The establishment of the Hatta LNG plant will significantly enhance the Vindhyan Basin's status, upgrading it from a Category II to a Category I Basin.
The plant will utilize cutting-edge technology to produce LNG, a cleaner alternative to traditional fossil fuels, significantly reducing carbon emissions and aligning with India's climate change mitigation goals. The discovery at Hatta represents the culmination of five decades of sustained exploration efforts. ONGC has already submitted its Field Development Plan (FDP) to the Directorate General of Hydrocarbons (DGH) to monetize its assets in the Hatta area.
The ‘non-binding MoU’ for a Technology Demonstration Small Scale LNG plant at Hatta, Madhya Pradesh’ between ONGC and Indian Oil is a visionary step towards a sustainable and prosperous future for India. As the nation advances on its path to energy self-sufficiency, the Hatta LNG plant will stand as a symbol of innovation, collaboration, and unwavering commitment to a greener tomorrow.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
Company Name | CMP |
---|---|
ONGC | 308.90 |
Oil India | 627.10 |
Jindal Drilling&Inds | 664.50 |
Deep Industries | 397.65 |
Hind Oil Exploration | 246.15 |
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