Borah to rule Oil India from next week

Vol 12, PW 14 (27 Nov 08) News in Brief
     

Oil India director operations and chairman designate NM Borah, 56, takes charge next week after waiting two and half years for the top job.

One of Borah’s biggest challenges will be to live up to the expectations of Oil India employees and local people who look to Oil India for employment and opportunities. “Producing oil from Assam is becoming expensive,â€‌ says an industry source.

“Local people demand more money for land needed for exploration. They also want schools, religious places, free power and roads.

â€‌ On June 27, Borah was the first of seven candidates shortlisted by the PESB to replace MR Pasrija. BN Talukdar, director exploration was the only other candidate to appear for interview.

“Borah is very articulate when you meet him,â€‌ says a former colleague. “But he can be a tough boss.

â€‌ Appointed in 2006, Pasrija leaves behind a company with a $1bn cash pile and government permission to sell 10% of the company to the public through an IPO.