GSPC at a Glance
We are one of the leading oil and gas exploration, development and production companies in India. We are also one of the largest gas trading companies in India. In addition, we have a significant presence in the gas transmission and gas distribution businesses. Our exploration, development and production activities are conducted both onshore and offshore in India and overseas. Government of Gujarat along with its public sector undertakings are holding more than 97% of equity of the company as on 31-Mar-10.
Our primary asset is the Deen Dayal field in the Krishna-Godavari basin (the “KG basin”) located off the east coast of the State of Andhra Pradesh, India, which has significant gas reserves, part of which, Deen Dayal West (“DDW”), we are currently developing for commercial production. We are the operator of the offshore KG-OSN-2001/3 block (the “KG block”), which includes the Deen Dayal field, and hold an 80.0% Working Interest in the block.
We also hold Working Interests in 15 producing fields in the Cambay basin. As of now we hold working Interests in 64 onshore and offshore exploration and production blocks. 53 of these blocks are located in India and 11 are located in Australia, Egypt, Indonesia and Yemen. We conduct all our exploration, development and production activities through unincorporated joint ventures with other domestic oil and gas companies and foreign partners and pursuant to PSCs and PSAs.
We, through our Subsidiaries and Associates, operate the largest gas transmission and distribution network in the State of Gujarat. Our subsidiary, Gujarat State Petronet Limited (“GSPL”), is a gas transmission company on common carrier basis. GSPC Gas and Sabarmati Gas, are engaged in the business of City Gas Distribution and related pipeline infrastructure in Gujarat. Between them, these companies have developed pipeline infrastructure and supply piped gas to domestic customers, industrial customers and commercial customers and Compressed Natural Gas (“CNG”) stations in Gujarat.
We trade in Liquefied Natural Gas (“LNG”), catering to industries engaged in power generation, steel and city gas distribution, among others.
We engage in other activities in the energy sector as well. Our wholly owned subsidiary, GSPC LNG Limited “GSPC LNG”), is developing an LNG terminal at Mundra in Gujarat. Our associates company Gujarat State Energy Generation Limited (“GSEG”), owns and operates a gas based power plant at Hazira in Gujarat. Another wholly owned subsidiary, GSPC Pipavav Power Company Limited (“GPPC”), is setting up a gas-fired combined cycle power plant at Pipavav in Gujarat. We have also set up a wind farm at Jakhau in Gujarat.
E & P Initiatives
The company acquired several discovered oil and gas fields in the first and second rounds of bidding initiated by the Government of India during 1994-95. This process achieved a further impetus with the announcement of the New Exploration Licensing Policy (NELP) by the Government of India in 1999. GSPC was among India’s first companies to participate in the NELP bidding process and acquire exploration blocks across the country. Today, the company has an international portfolio with exploration acreage in Australia, Egypt, Yemen and Indonesia.
Career At GSPC