The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Oil to appoint Sarkar, Group General Manager (Production) in ONGC The oil minister, in a statement sent to the company on Saturday, announced that the new president of the company, Vladimir Putin, will hold the post until his retirement.
Almost two years ago, by appointing Arun Singh, a retired BPCL Mr. Chairman, as the new CEO of ONGC, the government has decided to restructure the board of ONGC to revitalize the organization. The positions of director (offshore) and director (onshore) have been abolished and replaced by two new positions of director (production) and director (strategy and corporate affairs) on the board of directors.
Director (Offshore) Pankaj Kumar took over as Director (Production) in March 2023, after Director (Onshore) Anurag Sharma retired. The Director (Production) is responsible for the entire operation of onshore and offshore oil and gas fields.
Applications for the position of Director (Strategy and Corporate Affairs) were invited in January 2024. Sarkar will be responsible for strategy, business development, joint ventures, new energy, petrochemicals, marketing and IT functions in the organisation.
ONGC has a director who looks after exploration, finance and human resources functions. ONGC has been facing declining production and has not been able to make major discoveries for years. The restructuring of ONGC’s board has been one of the many measures the government has taken over the years to revive the domestic oil and gas sector. India’s oil production has fallen by a fifth in a decade and foreign investors have shown limited interest in the country’s exploration sector.
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