A Memorandum of Understanding (MoU) for setting up Centre of Excellence in Oil, Gas and Energy was signed between Director, IIT Bombay and CMDs of PSU Oil Companies and EIL here today. Union Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan and Secretary, Ministry of Petroleum and Natural Gas Dr M.M. Kutty graced the occasion.

Dharmendra Pradhan said the MoU will meet the needs of the Mission Green, as it will encourage research and development in the sector and also do the capacity building. He said that energy is the prime requirement for all activities in the modern world. Indian appetite for energy is increasing day by day, and we have to provide for clean, affordable and accessible energy sources. He said that there is need for mass production through domestic sources, and distribution through decentralization. Pradhan said that the technological and industrial changes are happening very fast, and the coming together of the academic and industrial organizations gives best results. He said that there is need to put academic research in the entrepreneurial mode, so that results are effective. The Minister said that MoU should be outcome based and must have roadmap for deliverables, and it should set examples for others. He said that India is a large energy market, and effort 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 the premier institute, should provide the missing link and help in evolving new strategies in the sector, he added.

To provide a competitive advantage to India’s Oil and Gas industry, Oil & Gas PSUs and IIT Bombay have come together to set up a “Centre of Excellence in Oil, Gas and Energy”. The Centre of Excellence is aimed at collaborative Research & Capability Building in the areas of Oil, Gas & Energy. It will work towards developing sustainable solutions and explore new frontiers in technology for future energy needs.  The Centre of Excellence will leverage the expertise available with IIT Bombay and the Oil and Gas industry. It will also provide an institutionalised platform for Industry – Academia interactions.The Centre of Excellence is expected to help in fostering innovations and help in developing a future ready energy industry in the country.

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