Gujarat Natural Resources Limited (GNRL) has signed a Supplemental Agreement to the Carried Interest Agreement and Deed of Assignment and Assumption for various oil fields. The agreement, executed on March 20, 2025, will facilitate the transfer of a portion of the participating interest (PI) in oil field operations from its step-down subsidiary GNRL Oil & Gas Limited (GOGL) to the parent company, GNRL.
According to the regulatory filing, the agreement ensures that GOGL will share revenue from business operations with GNRL, amounting to Rs 2 crore annually, payable on a quarterly basis until the Indian government approves the transfer.
GNRL holds 100% stake in GNRL Oil and Gas (I) Private Limited (GOGIL), which, in turn, owns 100% of GOGL. The company expects this transaction to strengthen its financial position and enhance revenue generation from its existing assets. The agreement will be automatically terminated once government approvals are received, allowing the terms of the original contract to take full effect.
GNRL has been actively expanding its presence in India’s oil and gas exploration sector, and this agreement is expected to contribute to the company’s long-term growth strategy. Further updates will be shared with stakeholders as the process unfolds.
