ONGC signs pact to buy out GSPC’s KG block stake for $1.2 bn

ONGC signs pact to buy out GSPC’s KG block stake for $1.2 bn

State-owned Oil and Natural Gas Corporation (ONGC) has signed definitive agreements to buy out debt-ridden GSPC’s entire 80 per cent stake in KG-basin natural gas block for $1.2 billion.

“Subsequent to board approving the deal on February 23, we have now signed farm-in and farm-out agreements,” a senior company official said. Read more

Credits: business-standard.com

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