Pankaj Kalra appointed CFO, Head of Strategy of Essar Exploration & Production

Ruia-family controlled Essar Global Fund Ltd (EGFL) on Tuesday announced the appointment of Pankaj Kalra as Chief Financial Officer and Head-Strategy, Essar Exploration & Production Ltd Mauritius (EEPLM). EEPLM is the downstream energy arm of the Essar Group and a key portfolio company of EGFL.

"Kalra will be responsible for overseeing the strategic financial management of EEPLM and its subsidiaries," the company said in a statement. "In this critical leadership role, he will be involved in driving financial performance and bringing added rigour to financial and investment decisions." Part of his remit would also be to lead EEPLM's M&A strategy, areas of financial strategy, performance management, large and complex financing, M&A (including divestments), risk management, reporting and controlling, investor relations and taxation, it said.

Additionally, he will lead the Board of Directors of EEPLM and its subsidiaries. Prior to joining Essar, Kalra was the CFO of Cairn Oil & Gas and has been associated with Reliance, Aircel, Idea, American Tower and EY. He is a rank holder Chartered Accountant and a Company Secretary, with a bachelor's degree in commerce from SRCC.

EEPLM is an early-stage developer, focussed primarily on oil & gas exploration. Its global portfolio includes conventional acreages that have a resource base of 3.4 billion barrels of oil equivalent (bboe) and recoverable of 1.7 bboe, as well as unconventional hydrocarbon acreages with a resource base of 15 TCF of gas and recoverable of 5 TCF. Until date, EGFL has invested USD 1.1 billion in EEPLM.

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