Founded 1979 | Headquarters Gandhinagar | |
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Type of business State government-owned company Subsidiaries GSPC LNG Limited, Guj Info Petro Ltd., GSPC (JPDA) Limited | ||
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.
Contents
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.