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ONGC in talks to acquire certain portion of GSPC’s assets

09 Sep 2016 Evaluate

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.



ONGC Share Price

285.70 -4.10 (-1.41%)
06-May-2026 11:30 View Price Chart
Peers
Company Name CMP
ONGC 285.70
Oil India 471.00
Jindal Drilling&Inds 529.80
Deep Industries 462.50
Asian Energy Service 317.85
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