MoU SIGNED BETWEEN KABIL AND OIL INDIA LTD. FOR COLLABORATION IN PROJECTS & EXPLORATION

An MoU was signed between KABIL and Oil India Ltd. at NALCO’s Corporate Headquarters in Bhubaneswar today. The MoU was signed by Shri Sadashiv Samantray, Director (Commercial), NALCO & CEO, KABIL and Shri Ranjan Goswami, ED(BD), OIL in the presence of Shri Sridhar Patra, CMD, NALCO and Chairman, KABIL and other senior officials of NALCO, KABIL and OIL. The MoU has been signed with the objective to collaborate, in existing and future projects of KABIL with the aim of strengthening and fostering connections in the exploration and exploitation of critical minerals. The collaborative efforts and joint initiatives would be directed towards finding international critical mineral opportunities, comprehensive due-diligence of potential critical mineral opportunities and to co-invest in potential critical mineral projects. Shri Sridhar Patra, CMD, NALCO and Chairman, KABIL said that this MoU opens a new chapter in the progress of KABIL, because the strengths of KABIL and OIL will synergise for opening new vistas in critical minerals exploration and exploitation in the country and abroad thereby taking a step forward in our journey of “Atma Nirbhar Bharat” and mineral securitization of the nation. Khanij Bidesh India Limited (KABIL), is a Joint Venture Company of the three Government Enterprises: National Aluminium Company Ltd. (NALCO), Hindustan Copper Limited (HCL) and Mineral Exploration & Consultancy Limited (MECL), under the aegis of Ministry of Mines, Government of India. It is formed to ensure supply side assurance of critical and strategic minerals and mineral security of the nation. OIL, a Maharatna CPSE under the aegis of Ministry of Petroleum & Natural Gas, is a premier integrated oil & gas company, possessing significant and proven expertise and resources in the field of exploration, development, production and transportation of crude oil and natural gas.