Corporate Valuations - News ONGC to acquire GSPC’s KG basin assets for $1.2 bn



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ONGC to acquire GSPC’s KG basin assets for $1.2 bn


Date: 24-December-2016

Oil and Natural Gas Corp (ONGC), India’s biggest explorer, has agreed to acquire Gujarat State Petroleum Corporation’s (GSPC) 80% stake in a gas field off India’s east coast for $995.26 million (Rs 6,750 crore).During the financial year ended 31 March 2016, ONGC Group produced 57.38 million tonne of oil and oil equivalent gas. Its consolidated revenue was Rs 1.4 trillion ($21.83 billion) and consolidated net profit was Rs 14,124 crore ($2.16 billion) for 2015-16.

 
 
 
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