Essar Appoints Former HOEC's MD as CEO - Exploration & Production
India's Essar Oil Limited announced Monday the appointment of Manish Maheshwari as CEO - Exploration & Production (E&P). With around 23 years of experience, Maheshwari till recently was the managing director of Hindustan Oil Exploration Company Ltd.
As CEO-E&P, Maheshwari would be responsible for Essar’s entire E&P business, which includes 15 blocks and fields in various stages of exploration and production in India, Indonesia, Madagascar, Nigeria and Vietnam. The total reserves and resources across these assets is estimated to be 2,034 million barrels of oil equivalent (MMboe). Essar’s development and production assets include the Raniganj CBM (coalbed methane) Block in West Bengal, Ratna & R Series in Mumbai Offshore, and the Mehsana Block in Gujarat. At Raniganj, the current gas production is about 0.3 million standard cubic meters per day (MMscm/d) or 10.59 million standard cubic feet per day (MMscf/d), which shall ramp up to 3 MMscm/d (105.93 MMscf/d). The Company has drilled 230 wells and laid requisite infrastructure including pipelines to supply CBM Gas to end consumers.
At HOEC, Maheshwari led the initiative to induct strategic partners in the company, ensuring smooth transition of strategic shareholders, involving both major and independent international Oil & Gas players, executing development projects in a safe, time efficient and cost effective manner and positioning the Company on a multifold increase in production.He previously served as investment manager in a Danish Investment Fund where he developed strategy for investments in East European Countries aligned to promoting Scandinavian companies interest. Before moving to Denmark, he spent approximately 12 years with companies like Tata Industries Ltd. and Hindustan Unilever Ltd. Maheshwari holds a Bachelor (Hons.) degree in Chemical Engineering and Masters in Business Administration from Strathclyde University, U.K.
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