Gujarat State Petroleum Corporation Ltd (GSPCL) is a state government-owned group of oil and gas exploration, production and distribution companies based in Gujarat, India. It is India's only state government-owned oil and gas company under the ownership of Department of Energy and Petrochemicals, Government of Gujarat. GSPC was incorporated in 1979 as a petrochemical company.[1][2][3][4]
History
Incorporated in 1979 as a petrochemical company, GSPC was originally involved in 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 in 1994, GSPC acquired several discovered fields in the first and second rounds of the bidding process.