India: ONGC to buy GSPC’s KG basin block for over $1.1b

India: ONGC to buy GSPC’s KG basin block for over $1.1b

Photo: Pixabay

State-owned explorer Oil and Natural Gas Corp. Ltd (ONGC) said on Friday it decided to purchase an 80% stake and development rights in Gujarat State Petroleum Corp. Ltd’s (GSPC’s) Deen Dayal West field in the Krishna Godavari offshore block OSN-2001/3 for $995.26 million.

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