Oil & Natural Gas Corporation Ltd.

Maharatna ONGC has registered the OTPC Power Project of its ONGC Tripura Power Corporation (OTPC) as a Clean Development Mechanism (CDM) project with the United Nations Framework Convention on Climate Change (UNFCCC), under the Kyoto Protocol. This 726.6 MW gas-based power generation unit of the company in Tripura is a fuel-substitution project, which would mitigate over 1.6 million tons of Carbon-dioxide emissions per year for the next 10 years. Fetching 1.6 million carbon credits per year, this is one of the biggest CDM projects in the world. 

With this registration, the company now has 10 registered CDM projects. Such a double digit portfolio of CDM projects by a single organization is the first in India and very rare feat even globally. OTPC is being developed by the company as a joint venture with the Tripura government. This project is a result of rigorous efforts over the last three and a half years.

ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.