ONGC signs pact to buy stake in GSPC's KG basin gas block
State-owned ONGC and Gujarat State Petroleum Corporation have signed an initial pact to  pave the way for the former to buy a majority stake in a GSPC’s Deen Dayal West gas block in the Krishna-Godavari basin. ONGC and GSPC currently have differences over quantity of reserves. Thus, the pact provides for a three-member committee to oversee the transaction.