A growing demand in India amid a global slowdown and government policies have made investments and returns attractive.
The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas.
Securities and Exchange Board of India had asked HPCL to re-file shareholding pattern to stock exchanges by August 13, 2019.
Oil and Natural Gas Corp in January last year bought the government's entire 51.11 pc stake in HPCL for Rs 36,915 crore.
The golf course identified by DIPAM has two producing oil wells, sources said.
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