EOGEPL board appoints industry veteran Santosh Chandra as CEO
- Oct 15, 2020
- Essar Oil
Mumbai, 15 October 2020: Essar Oil and Gas Exploration and Production Ltd (EOGEPL), part of Essar’s oil and gas business, today said its board has appointed Mr. Santosh Chandra, a veteran in global upstream industry as the company’s Chief Executive Officer.
EOGEPL, an investee company of Essar Capital and is India’s largest operator of unconventional hydrocarbon acreages. Essar Capital’s investments in EOGEPL are a part of its investment portfolio in exploration and production businesses which are increasingly focussed on clean fuels. The coal bed methane (CBM) gas is widely seen as the fuel of this century.
Mr. Chandra, a seasoned professional with over 30 years of experience, has an impressive record in the oil and gas E&P ranging from a start-up and remote field operations to full field development across onshore, offshore and deep-water settings. In his current role, he will be spearheading EOGEPL’s exploration and production business to a higher growth trajectory and valuation by designing and implementing a strategic business plan given that CBM gas is the fuel of this century and is high on demand as a clean fuel.
An alumni of Duke University and Indian School of Mines, Dhanbad, Mr Chandra started his career with ONGC and has been previously associated with Cairn Energy India in various leadership roles. Prior to joining Essar, he was the Head of Development – Uganda at Tullow Oil Plc., one of the largest independent oil and gas companies in the UK.
Commenting on the appointment, Mr B.C Tripathi, Non-executive Chairman, Essar Exploration & Production Mauritius, “We welcome Mr. Chandra to the Essar family and firmly believe that he will usher in a wave of superior growth in our CBM business and take it to new highs, which is at the cusp of being commissioned and change the entire socio-economic fabric of the eastern region of India. His capabilities are unmatched when it comes to natural resources and we are very proud to have him onboard.”
“I am very excited to be part of Essar’s new investment-led growth journey and look forward to be a significant contributor towards energy needs of our country. Oil and gas production,especially that of coal bed methane, is not only Essar’s priority but also of national importance as we strive towards becoming “Atmanirbhar Bharat” in many years to come. I am confident that our coal seam gas will emerge as a game changer in the entire eastern region soon as the Ganga Urja pipeline to Durgapur is commissioned,” said Mr. Chandra, CEO, EOGEPL.
EOGEPL is one of the largest E&P companies in India primarily focused in the domain of Unconventional Hydrocarbons (UHC) having a resource base of 15 TCF (Trillion Cubic Feet) CBM and shale resources. EOGEPL has so far invested in excess of Rs. 4,000 Crores in exploration to commercial development of the Raniganj CBM Block. The company is a pioneer of Unconventional HC in India with about 25 years of experience in E&P of CBM. EOGEPL’s Raniganj CBM Block is the first CBM Project in India to cross the threshold of 1.0 million cubic metres of gas production. As on date the project is commissioned with 348 wells and a state-of-art indigenous infrastructure facilities.
Essar Capital Limited (“Essar Capital”) is the investment manager of Essar Global Fund Limited (“EGFL”). It monitors and manages the entire portfolio of investments owned by EGFL.
EGFL is a global investor, owning a number of world-class assets diversified across the core sectors of Energy (comprising Exploration & Production, Refining & Marketing and Power businesses), Infrastructure (comprising Ports and Stanlow Terminals), Metals & Mining, Services & Technology (comprising Shipping, Oilfield services, Projects, Technology Solutions, Device protection and Customer experience). EGFL invests long-term capital into the portfolio companies and holds near 100% stake in all its investments. EGFL invests with a sense of active ownership, which involves direct engagement with the management of the respective businesses. The portfolio companies have aggregate revenues of about USD 14 billion and employ over 7,000 people.
Manish Kedia, Senior Vice President – Corporate Affairs, Essar
Phone: +91 98197 30092, Email: [email protected]
Trupti Sakpal, Phone: +91 99308 96738, Email: [email protected]