Rakesh Jain joins Suntera as India MD

Vol 10, PW 19 (25 Jan 07) News in Brief

Rakesh Jain, former managing director of Hindustan Oil Exploration, has joined Suntera Energy as its new MD based in Delhi.

Jain left HOEC on 31st July after a row with UK-listed Burren Energy, which owns 26% of HOEC, and was appointed this month to head Suntera’s emerging oil and gas business in India. Suntera, a joint venture between Khemka-controlled Sun Energy (50%) and gas major ITERA (50%), is building up a presence in India.

On 31st August it farmed-in to four onland blocks operated by Oil India: two in Rajasthan, one in Assam and one in the Mahanadi basin. Then on 15th September it submitted NELP-VI bids for a block in Mizoram and one in Assam, also with Oil India, its partner of choice in India and abroad (See Story 3).

Suntera is also trying to make inroads with GSPC and last August CEO Steve Lowden signed a MoU with GSPC MD DJ Pandian under the benign gaze of Gujarat CM Narendra Modi to bid for blocks in India and Russia.