ONGC inks pact with Norwegian firm

NEW DELHI, Feb. 8 (UPI) -- India's Oil and Natural Gas Corp. has signed a pact with Norway's StatoilHydro ASA to develop projects on carbon capture and sequestration.

Under the agreement, ONGC and StatoilHydro will jointly screen and analyze potential CCS and CDM projects and prepare decision documents relevant for the selected projects, ONGC said Friday.

StatoilHydro will provide expertise in CCS technology, along with advice and technological support, an ONGC statement said. The company, in turn, will consider Statoil as a development partner for any project identified as a result of the activities described in the agreement, the statement said.