No Proposal to acquire GSPC by ONGC
The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that there is no proposal to acquire Gujarat State Petroleum Corporation (GSPC) by ONGC. However, in one such area, namely, KG-OSN-2001/1, allotted to GSPC and its Joint Venture partners, GSPC has approached ONGC for framing out certain stake. Towards this a non-binding Memorandum of Understanding has been signed between ONGC and GSPC on 04th October, 2016.
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