SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ONGC hires US based consultant to assess reserves in GSPC’s Deendayal gas block

29 Aug 2016 Evaluate

Oil & Natural Gas Corporation (ONGC) has hired the US-based consultant Ryder Scott to assess natural gas reserves in Gujarat State Petroleum Corporation’s (GSPC) Deendayal block before deciding to buy a stake in it. The consultant will submit its report by November.

GSPC has been seeking to sell a majority stake in its Deendayal block in Bay of Bengal to ONGC to avoid defaulting on loans. ONGC initially was not keen to buy stake in the block as it felt the block had reserves far less than what GSPC was claiming and the asking price for the stake was not commensurate with the returns.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $31 billion.



ONGC Share Price

283.70 -6.10 (-2.10%)
06-May-2026 13:09 View Price Chart
Peers
Company Name CMP
ONGC 283.70
Oil India 468.05
Jindal Drilling&Inds 525.80
Deep Industries 450.90
Asian Energy Service 310.05
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×