Deal Insight
ONGC buys out GSPC's stake in Deen Dayal block in India for US$1.2 billion
Report summary
ONGC will acquire Gujarat State Petroleum Corporation's (GSPC) 80% interest in the KG-OSN-2001/3 block off the east coast of India. The block includes the Deen Dayal West gas/condensate fields which have already begun trial production. Out of the total consideration of US$1.195 billion, US$200 million will be towards six other discoveries on the block. The conservative price paid, below our valuation, reflects GSPC's financial challenges and the difficulties encountered during development. We anticipate that ONGC will come up with a new field development plan to monetise the fields.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
-
KG-OSN-2001/3 block
- Deen Dayal West
- Other discoveries
- Key challenges with development drilling and resource assessment
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KG-OSN-2001/3 block
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- ONGC
- GSPC
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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