Mumbai, 24th September 2021: Essar Oil and Gas Exploration and Production Ltd (EOGEPL) today said that they have further strengthened their Board by appointing experts and experienced hydrocarbon professionals as Directors to provide support and guidance in line with the company’s clean fuel based growth strategy. EOGEPL, an investee company of Essar Global Fund (EGFL), is India’s largest operator of unconventional hydrocarbon acreages.
The new members welcomed into the EOGEPL Board are Mr. Prashant Ruia, Director – Essar Capital, Mr. Jonathan R. Kelafant, Vice President with Advanced Resources International, Inc., one of the renowned UHC asset advisory companies in the world, Mr. Charles Boyer- stalwart in Schlumberger UHC consulting field with deep knowledge of UHC project implementation and sustenance and Mr. Sunil Jain, veteran in the renewable energy sector. All the new members come with experience between 25-35 years.
Commenting on the appointment, on behalf of the Essar Capital Board, Mr. B.C. Tripathi, Director, commented,“We are constantly making efforts to increase confidence amongst our stakeholders, thus the appointment of esteemed veterans of the industry onto our board will further bolster the updates we have made to our corporate governance. EOGEPL has been a pioneer of UHC in India with more than 20 years of experience. These appointments will further enhance our overall governance and risk assessment processes, as well as providing insights and value addition towards the business as it continues its transition to low carbon operations. We welcome all the new members and await to witness the novelty they will bring to the table”.
Essar Capital is the investment manager of EGFL, and EOGEPL is part of its investment focus in exploration and production businesses, which are increasingly focused on clean fuels. With the coal bed methane (CBM) gas being widely seen as the fuel of this century, EOGEPL is proud to be a part of the efforts to take the Nation towards a gas-based economy through its increasing gas production.
India continues to be a net hydrocarbon import dependent country and thus alongside imports of Natural Gas the ramping-up of domestic production is very important towards ‘’AtmaNirbhar Bharat’’. It is perceived that Unconventional Hydrocarbon (UHC) resources will play a crucial role in domestic gas securitization.
EOGEPL is one of the largest E&P companies in India primarily focused in the domain of Unconventional Hydrocarbons (UHC) having a resource base of 15 TCF (Trillion Cubic Feet) CBM and shale resources. EOGEPL has so far invested in excess of Rs. 4,000 Crores in exploration to commercial development of the Raniganj CBM Block. The company is a pioneer of Unconventional HC in India with about 25 years of experience in E&P of CBM. EOGEPL’s Raniganj CBM Block is the first CBM Project in India to cross the threshold of 1.0 million cubic metres of gas production. As on date the project is commissioned with 348 wells and a state-of-art indigenous infrastructure facilities.
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