Chandra blocks OVL board expansion
Oil secretary Saurabh Chandra is inexplicably delaying the creation of a new director business development (BD) post at OVL and has been inexplicably ‘sitting’ on the file for the past two months.
"The PESB will only advertise the post after the job description has been approved by the oil ministry," ONGC sources tell us. "We don't know what Chandra has in mind or why it’s being held up.
" ONGC hopes the new director BD at OVL will help it achieve an ambitious production target of 60m t/y (O+OEG) by 2030. "Whoever becomes the new director BD will take on work from the MD and directors exploration and operations," we hear.
OVL’s board consists only of an MD plus finance, exploration and operations directors despite its stake in 36 projects across 17 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Kazakhstan, Libya, Mozambique, Myanmar, Russia, Sudan, South Sudan, Syria, Venezuela, Vietnam and New Zealand, producing a total 160,000 boed.