Lucrative ONGC director positions soon vacant

Vol 15, PW 12 (15 Dec 11) People & Policy

ONGC directors win many ‘rewards’ in their job so it’s not surprising candidates use all means available to win these prized positions, some less honourable than others.

Hectic lobbying, we hear, is underway for four ONGC director posts, where the Public Enterprises Selection Board (PESB) hopes to hold interviews by April 2012. “I have received more than 30 calls from potential ONGC candidates,” reports an industry source.

“Most ask me if I can ‘manage’ things in their favour.” Directors at ONGC, India’s most profitable state-owned company, he reminds us, have the power to award high-value multi-million-dollar contracts.

Is it any surprise the posts are so fiercely contested This month (December 8) the PESB began hunting for someone to replace ONGC director onshore AK Hazarika who retires on September 30 next year, and ONGC director technical UN Bose who retires on November 30 next year. Also advertised is the ONGC director offshore position, vacated by Sudhir Vasudeva, when he became CMD in October, and the ONGC director finance post, vacant since DK Sarraf moved to OVL as managing director in September.

Anyone hoping to fill Sarraf’s shoes better move fast: the CV submission deadline is December 26. Those interested in the director offshore post have until January 19; while the deadline for the director onshore and director technical roles is February 8.

Among those expected to apply for the director onshore and director technical positions, which have similar eligibility criteria, are ONGC Assam asset manager Bimal Kumar Baruah; ONGC Ankleshwar asset manager AK Gupta; ONGC deepwater drilling chief AK Mishra; and GAIL executive director (projects) Dr. Ashutosh Karnatak.

“Several ONGC EDs and group general managers might also apply,” we hear. Potential frontrunners in the director offshore race are ONGC marketing department head PK Ghosh and ONGC Bassein gasfield asset manager PK Borthakur.