More than 25 years ago, the Government of Gujarat conceived of the formation of a petrochemical company, that has today metamorphosed into a large-scale Rs. 3900 crore energy organization, excelling in a wide gamut of hydrocarbon activities. Notwithstanding its limited role and the low key infrastructure, the organization drew inspiration from the exciting opportunities that the hydrocarbon sector offered in the wake of liberalization of Indian economy. It gradually began to expand its vision, widened the scope of its activities and rechristened itself as Gujarat State Petroleum Corporation in 1994, to enable a smoother journey towards its proactive vision.

GSPC has grown from operatorship of small fields in Gujarat into an expansive oil and gas exploration and production company across India and overseas within just a decade. The company has recently drilled its 50th onshore well, which is a landmark considering the fact that GSPC has been an Operator only since Aprill 2000. Its rise in the hydrocarbon sector was helped in no small measure by the Central Government's opening of the sector to private participation in the early 1990s.