Deal Insight

ONGC buys out GSPC's stake in Deen Dayal block in India for US$1.2 billion

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17 January 2017

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

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

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    ONGC buys out GSPC's stake in Deen Dayal block in India for US$1.2 billion

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