Oil and Natural Gas Corporation (ONGC) is in talks to acquire a certain portion of the oil and gas assets of Gujarat State Petroleum Corporation (GSPC) in the Krishna-Godavari basin, off the Andhra coast.
The company’s overseas arm - ONGC Videsh (OVL) is in advance stages of talks for acquiring another 11 percent stake in the Vankor-Cluster asset in Russia’s eastern Siberia, owned by Rosneft. The deal might take OVL’s overall stake in Vankor to 26 percent; it had bought 15 percent in the asset for $1.27 billion in September 2015.
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.
| Company Name | CMP |
|---|---|
| ONGC | 234.50 |
| Oil India | 469.00 |
| Jindal Drilling&Inds | 616.40 |
| Deep Industries | 651.15 |
| Asian Energy Service | 451.75 |
| View more.. | |
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