Oil India (OIL) has signed a Memorandum of Understanding (MoU) with Mineral Exploration and Consultancy (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. 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.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
