Iceland GeoSurvey (ISOR) has signed a Memorandum of Understanding (MoU) with Oil & Natural Gas Corporation Ltd (ONGC) in New Delhi on 07 June 2023. The MoU was signed by Mr. Ranjit Kumar, CEO, Techon Consulting Engineers representing ISOR and Mr. D. Adhikari, Executive Director-Chief BD&JV ONGC in the presence of the Ambassador of Iceland, HE Mr. Gudni Bragason and ONGC Chairman & CEO Mr. Arun Kumar Singh.
The new MoU with ONGC will further expand cooperation in exploration and development of geothermal energy resources across India augmenting the existing MoU with ONGC Energy Center under which the Puga geothermal power project in Ladakh was taken up. This collaborative agreement aligns with the formation of the Joint Task Force on Geothermal Energy Cooperation initiated by the Prime Ministers of Iceland and India during the India-Nordic Summit held in 2022 in Copenhagen.
In addition to the participation of representatives from the Icelandic Embassy and ONGC, the MoU signing function was also attended by representatives from Iceland GeoSurvey and Verkis virtually.