EOGEPL strengthens board, adopts governance changes

PTI | New Delhi | Updated: 24-09-2021 16:52 IST | Created: 24-09-2021 16:29 IST
EOGEPL strengthens board, adopts governance changes
Representative Image Image Credit: Twitter (@Essar_EOGEPL)
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Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Friday said it has further strengthened its 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 Prashant Ruia, Director, Essar Capital; Jonathan R Kelafant, Vice President with Advanced Resources International, Inc - one of the renowned UHC asset advisory companies in the world; Charles Boyer - a stalwart in Schlumberger UHC consulting field with deep knowledge of UHC project implementation and sustenance and Sunil Jain, a veteran in the renewable energy sector,'' the firm said in a statement.

All the new members come with experience between 25-35 years.

Commenting on the appointment, on behalf of the Essar Capital Board, B.C. Tripathi, the Director, said, ''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.'' These appointments, he said, will further enhance 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.

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.

India continues to be a net hydrocarbon import-dependent country.

EOGEPL has a resource base of 15 trillion cubic feet of coal-bed methane (CBM) and shale resources. It has so far invested more than Rs 4,000 crores in exploration to the commercial development of the Raniganj CBM Block.

EOGEPL's Raniganj CBM block is the first CBM Project in India to cross the threshold of 1 million cubic meters of gas production.

As of date the project is commissioned with 348 wells and state-of-art indigenous infrastructure facilities, the statement added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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