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India to develop Deepwater Exploration and Production (E&P) ecosystem with Norway

India to develop Deepwater Exploration and Production (E&P) ecosystem with Norway

NEW DELHI: Petroleum Minister Hardeep Singh Puri on Monday announced that India plans to develop a comprehensive ecosystem for deepwater Exploration and Production (E&P) technologies as it prepares to explore over 2.5 lakh sq km under the Open Acreage Licensing Policy (OALP) Round 10. The tenth round of OALP is set to be one of the largest offshore exploration bidding rounds globally.
The announcement came following the Minister's visit to the Northern Lights CO₂ Terminal in Bergen, Norway. The facility, funded by the Norwegian government and operated in partnership with Equinor, Shell, and TotalEnergies, is the largest carbon storage project of its kind.
Deepwater Exploration and Production (E&P) technologies is the advanced methods, tools, and systems used to locate, drill, extract, and process oil and natural gas from reservoirs located deep beneath the ocean floor—typically at depths greater than 500 meters (1,640 feet).
The Northern Lights project can store up to 100 million tonnes of carbon dioxide. It features a flexible infrastructure that enables the transport of CO₂ from capture sites by ship to a terminal in western Norway, where it is temporarily stored before being piped 110 km offshore and injected 2,600 metres below the seabed for safe and permanent storage.
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