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GNRL’s step-down subsidiary inks pact regarding working interest in Oil & Gas fields

05 Dec 2011 Evaluate

Heramec, a wholly owned step-down subsidiary of Gujarat Natural Resources (GNRL) has signed an agreement regarding its working interest in the Oil & Gas fields located in India subject to its becoming effective only upon receiving necessary regulatory approvals.

This techno-financial alliance will provide the company the much needed latest technical expertise which shall in turn yield better results for the Company.

This arrangement is a result of the sustained and concerted efforts over the last year, by the entire team at Hermec, which will now provide the company with a vehicle to launch its unconventional expertise into India, which in turn will benefit the company’s share holders and also the Joint venture partners and the Government of India as a whole.

GNRL is having producing assets located in the petroliferous Cambay Basin with readily available evacuation infrastructure. It has a portfolio of 6 producing assets currently producing 46 BOPD of oil and 0.67 MMSCFD of gas (Net to the company) - 140 BOEPD net to the Company.

Guj. Natural Resourc Share Price

99.88 -3.40 (-3.29%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 279.25
Oil India 454.40
Jindal Drilling&Inds 535.85
Deep Industries 457.70
Asian Energy Service 297.85
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