Foe turns Friend

Vol 14, PW 11 (18 Nov 10) News in Brief
     

Former Canoro Resources chief Les Kondratoff has joined Assam Company - once his adversary and estranged Amguri JV partner - as its new Chief Operating Officer.

PETROWATCH learns Kondratoff was appointed by the Aditya K. Jajodia promoted tea planter turned explorer in September before taking up his position on October 27 in Delhi.

Kondratoff’s brief, we hear, is to “expand Assam Company’s E&P footprint” in India and abroad. “NELP-IX has three blocks in Assam, which might be of interest,” we hear.

Outside India, Assam Company has two non-operator stakes in the US, but is unlikely to pursue more. “The US is saturated,” adds a source.

“Assam Company is more likely to look at places like Azerbaijan and Kazakhstan.” Less clear is Kondratoff’s position on Canoro, his former company, now owned by Hong Kong-based Mass Financial, which is fighting government attempts to throw it out of the Amguri oilfield PSC, where it is operator with 40%, alongside Assam Company with 60%.