Gujarat State Petronet Ltd. - The Energy Lifeline of Gujarat


	----------------------------------------------------
	Unaudited Financial Results for the quarter ended 30^thJune 2010
	----------------------------------------------------
	Audited Financial Results for the year ended 31^stMarch 2010
	----------------------------------------------------




	The Rs. 3900 crore Gujarat State Petroleum Corporation (GSPC) is the flagship concern of the GSPC Group involved in exploration and production (E&P). In its earlier avatar, GSPC went about pursuing projects in the downstream hydrocarbon sector. However, the company expanded its vision and scope of activities when it scented the opportunity that came with the privatisation of the hydrocarbon sector in the nineties. Exploring the potential 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 even has an international portfolio with exploration acreage in Egypt, Yemen and Australia. There has been no looking back for GSPC since it first acquired the Hazira gas field in 1994. Among other achievements, the company has struck India’s largest gas find at Krishna Godavari (KG) basin and built the country’s first and only land based drilling platform, Ratnakar.