Department of Petroleum (DoP), Government of Gujarat has granted Mining Lease to Mercator Petroleum (MPL), a Mercator Group Company for exploiting oil discoveries made by MPL. The Mining Lease has been awarded for a period of 20 years.
Earlier, the Directorate General of Hydrocarbons had approved the Field Development Plan (FDP) for over 23 million barrels of recoverable Oil in Jyoti-l and Jyoti-2 discoveries.
Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
