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ONGC nod for stake in GSPC gas block

ONGC nod for stake in GSPC gas block
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State-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement to buy a stake in Gujarat government firm GSPC´s KG basin gas block, according to a reportin the Business Line.

The MOU, the first time by a state utility, also incorporates a dispute resolution mechanism wherein differences over valuation or natural gas reserves are referred to a three-member committee of outside experts.

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