Jehan Energyآ’s ambitious plans for India

Vol 3, PW 18 (29 Sep 99) Exploration & Production
     

Who is Jehan Energy In India the name is unknown except to a select group of industry specialists.

One commentator predicts the company will "shake up the Indian oil and gas scene like no one before". Inquiries by this report reveal that for tax reasons Jehan Energy is registered in the Isle of Man but administered from an office in London.

It is a privately owned company set up in 1997 by a group of Non Resident Indian financiers specifically to undertake investments in the Indian oil and gas sector. This report learns it is planning more acquisitions.

Jehan has seven directors but the day-to-day running of the company is left in the hands of a four-strong Management Team, led by Sastri Karra, who has over 20 years experience in the oil industry, most of it in Canada. Karra becomes the new Chief Operating Officer of Hardy Exploration & Production (India) Ltd in Madras to replace Ron Bryans, a former Hardy employee but now employed full-time with British Borneo.

The other three in Jehan Energys Management Team are: Yogesh Sharma, Director Technical and a reservoir engineer by training; and Michael Fitzgerald and Tony Parker, who look after the financial running of the business. Parker is also a director with Laffarty & Partners, a finance house in London.

Jehan is keen to maintain a low profile in India, preferring actions to speak louder than words. By its own admission the company plans more acquisitions and is known to be talking to the operator of the struggling Kharsang concession in Assam and the operator of two producing fields in the Cambay basin.

Less clear is where the money will come from to fund the companys ambitious plans for India. Norwegian shipping interests are believed to have a stake in Jehan.