Middle East expansion plans for Essar
Ruia-controlled Essar group's global ambitions are growing day by day.
PETROWATCH learns that Essar's global business arm Essar Global Limited has begun identifying upstream opportunities in the Middle East. “Essar wants to focus on upcoming opportunities in the E&P sector in the Middle East,†says an industry source.
Essar's group company Essar Steel already has offices in Dubai and Qatar. “They keep on sending geologists to these offices as and when they identify opportunities in that region,†reports a source.
“They are not based there on a permanent basis. Essar's office in Iran is the only place where an exploration guy is permanently based.
†Last month (September), Essar sent several geologists to its Dubai office. “Initially Essar will send existing staff to the Dubai and Qatar offices,†adds a source.
“More staff will be recruited as and when business grows and opportunities come in.†Essar drilling subsidiary Essar Oilfield Services also has offices in Dubai.