Norway offers ONGC a bite of $1b carbon project
Monday, 1 November 2010
NEW DELHI, Oct 31 (Business Standard): The Norwegian government has offered Oil and Natural Gas Corporation (ONGC) a stake in a $1-billion carbon capture storage project at Statoil's Mongstad oil refinery in Norway.
The offer was made at a meeting between a Norwegian delegation, headed by state secretary, petroleum and energy, Per Rune Henriksen, and ONGC Chairman and Managing Director RS Sharma and Director (offshore) Sudhir Vasudeva earlier this week.
Norway is also offering India technology for deepwater and subsea exploration.
Speaking to Business Standard, Henriksen said, "We are looking for partnership with Indian companies in Technology Centre, Mongstad, and have invited the ONGC chairman to visit the facility."
On the equity being offered to ONGC, he said it was "a matter of discussion".
The Norwegian government holds 75.12 per cent in the project, while state-owned Statoil owns 20 per cent. Shell and South African state-owned company Sasol own 2.44 per cent each.
Located at the Statoil Mongstad oil refinery, northwest of Bergen, the CO2 Technology Centre would have access to flue gas from the gas-fired combined heat and power plant and the refinery catalytic cracker. CO2 stands for carbon dioxide.
The offer was made at a meeting between a Norwegian delegation, headed by state secretary, petroleum and energy, Per Rune Henriksen, and ONGC Chairman and Managing Director RS Sharma and Director (offshore) Sudhir Vasudeva earlier this week.
Norway is also offering India technology for deepwater and subsea exploration.
Speaking to Business Standard, Henriksen said, "We are looking for partnership with Indian companies in Technology Centre, Mongstad, and have invited the ONGC chairman to visit the facility."
On the equity being offered to ONGC, he said it was "a matter of discussion".
The Norwegian government holds 75.12 per cent in the project, while state-owned Statoil owns 20 per cent. Shell and South African state-owned company Sasol own 2.44 per cent each.
Located at the Statoil Mongstad oil refinery, northwest of Bergen, the CO2 Technology Centre would have access to flue gas from the gas-fired combined heat and power plant and the refinery catalytic cracker. CO2 stands for carbon dioxide.