ONGC has reportedly zeroed on more than a dozen projects to generate carbon offsets by 2013 as part of a drive to green its operations.

The company already has six projects formally registered under the UN's Clean Development Mechanism (CDM), one of which recently received its first batch of internationally tradeable offsets called certified emissions reductions, or CERs.

The credits stem from a waste heat recovery project at ONGC's Mumbai High field. ONGC received 10,722 CERs valued at Rs 7,60,000. Each CER represents a tonne of carbon dioxide-equivalent and are credited annually.

The other five registered CDM projects are undergoing final verification checks before receiving their CERs. These projects are likely to generate 1,98,738 CERs annually. These projects include cutting emissions via a wind power plant, offshore grid interconnection, vapour and flue gas recovery as well as greener buildings and fuel substitution.

Also, the company has identified another seven CDM projects. It aims to submit two projects each year for registration.

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