Oil India Limited (OIL), a Maharatna CPSE under the aegis of the Ministry of
Petroleum & Natural Gas and a premier integrated energy company, has signed a
Memorandum of Understanding (MoU) with Mineral Exploration and Consultancy
Limited (MECL), a Miniratna-I CPSE under the Ministry of Mines, Government of
India, to collaborate in the exploration and development of critical mineral blocks in
India and overseas. The MoU was signed in the presence of CMD, Director and
senior officers from OIL and MECL. This strategic partnership marks a significant
milestone in fostering the exploration of critical minerals both in India and overseas,
recognizing their vital importance for the nation’s energy security and sustainable
growth.
Under this collaboration, OIL and MECL will jointly undertake exploration activities
aimed at identifying, evaluating, and developing mineral-rich blocks both in India and
overseas, including the recently awarded block of OIL- The Phop Graphite and
Vanadium block in Arunachal Pradesh