Gujarat State Petroleum Corporation
| State government-owned company | |
| Founded | 1979 |
| Headquarters | Gandhinagar,Gujarat, India |
Gujarat State Petroleum Corporation Ltd (GSPC) is an oil and gas exploration company in Gujarat, India. It is India's only State Government-owned oil and gas company with the Government of Gujarat holding approximately 95% equity stake. GSPC was incorporated in 1979 as a petrochemical company.
History
Incorporated in 1979 as a petrochemical company, GSPC has today a wide gamut of hydrocarbon activities. In 1992, GSPC widened the scope of its activities and rechristened itself as Gujarat State Petroleum Corporation in 1994. With the Government of India's decision to privatize the hydrocarbon sector, GSPC acquired several discovered fields in the first and second rounds of bidding process initiated by the Government of India during 1994 and 1995. The company saw a great transformation from the year 2001, when DJ Pandian was appointed the managing director. The public sector company's activities have become controversial, with the CAG indicting the company on many counts.
Operations
GSPC has made one of India's largest gas finds in the Krishna Godavari Basin. It has also built the country's first land-based drilling platform, Ratnakar, at Hazira. GSPC has also exploration activities in Egypt, Yemen, Indonesia, and Australia.
Subsidiaries
Gujarat State Petronet Limited is a natural gas transmission company. The Gujarat Energy Research and Management Institute (GERMI) is an institution for energy education, training and research. GSPC Pipavav Power Company is a company for implementation of a power project in the Saurashtra region. Sabarmati Gas Limited is a company incorporated at 6 March 2006 for developing Gujarat gas distribution network at 3 districts i.e. Gandhinagar, Mehasana & Sabarkantha. Gujarat State Energy Generation is a company for power generation in Gujarat. GSPC LNG Limited is an operator of the LNG receiving terminal. GSPC GAS is a gas distribution company. Guj Info Petro provides IT and telecommunication services.
Partners
The company is attracting interest from oil companies all over the world and is signing strategic business alliances covering E & P activities in the subcontinent.
- Gas Authority of India Limited {GAIL(India) Limited}, Central government Navratna Company, is the partner of GSPC for Ahmedabad exploration block and one block each in Tamil Nadu and Mumbai offshore
- Niko Resources Limited, Canada is the first major partner of GSPC and is the Operator for the four small oil & gas fields awarded in the first round of bidding.
- GeoGlobal Resources(Barbados) Inc, Canada is the partner of GSPC in the KG basin offshore exploration block, apart from two blocks in Gujarat.
- Hindustan Oil Exploration Company Limited is GSPC's partner in One exploration block and two small oil/gas fields.
- Jubilant Oil & Gas Private Limited is the partner of GSPC in the KG basin offshore exploration block, apart from one block in Tamil Nadu and two blocks in Gujarat.
- OILEX – An Australian company
- Oil & Natural Gas Corporation Limited is the Operator for two exploration blocks in Mumbai offshore area in which IOC, GAIL and OIL are also partners, apart from a CBM block in north Gujarat.
- Heramec Limited, UK is a significant partner of GSPC having stake in six fields and is the Operator for four of the six small oil & gas fields awarded in the Second rounded bidding.
New MD Mr. Tapan Ray, IAS took charge on 10 November 2009.