ONGC to acquire 80% stake of GSPCâs Krishna Godavari basin ONGC to acquire 80% stake of GSPCâs Krishna Godavari basin Oil And Natural Gas Corp (ONGC) Will Acquire Gujarat State Petroleum Corpâs (GSPC) Entire 80% Stake In A Krishna Godavari Basin Gas Block In Eastern Offshore After Receiving A Green Signal From The Government For The Deal. News Nation Bureau | Edited By : Deepak Mahato | Updated on: 30 Jul 2017, 08:17:28 AM New Delhi: Oil and Natural Gas Corp (ONGC) will acquire Gujarat State Petroleum Corp’s (GSPC) entire 80% stake in a Krishna Godavari Basin gas block in eastern offshore after receiving a green signal from the government for the deal.