Oil India Signs MoU with Mineral Exploration and Consultancy Limited for Critical Mineral Blocks Exploration

Oil India Limited (OIL), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas, 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. The MoU aims to collaborate in the exploration and development of critical mineral blocks in India and overseas. The strategic partnership will foster the exploration of critical minerals, contributing to the nation's energy security and sustainable growth. The collaboration will include joint exploration activities aimed at identifying, evaluating, and developing mineral-rich blocks both in India and overseas, including the recently awarded Phop Graphite and Vanadium block in Arunachal Pradesh.