Mumbai-based Essar Oil Ltd. announced the appointment of Manish Maheshwari as the new chief executive officer of the company’s exploration and production business.
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| New CEO Manish Maheshwari. Photo from Essar. |
Essar Oil Ltd. is the oil and gas arm of the Essar Group, managed by Shashi Ruia (Chairman) and Ravi Ruia (Vice-Chairman).
Essar Oil’s primary exploration and production business centers on its coal bed methane block at Raniganj in West Bengal, which is currently producing 300,000 standard cubic metres of gas/day (scmd). The block covers 500sq km and has the potential to reach a total production of 3 million scmd in the next three to four years.
Essar Oil also has oil and gas exploration blocks overseas and two smaller conventional oil and gas assets in India.
As CEO, Maheshwari will be responsible for Essar Oil’s entire exploration and production business, which includes 15 blocks and fields in India, Indonesia, Madagascar, Nigeria, and Vietnam. It also includes two producing assets in India, namely Ratna/R-Series in Mumbai Offshore, and the Mehsana block in Gujarat, and spearheading ramp-up at Raniganj.
Maheshwari has been the managing director of Hindustan Oil Exploration Co. Ltd., a mid-level oil and exploration company. He has also served as investment manager in a Danish investment fund.
Maheshwari holds a Bachelor (Hons.) degree in chemical engineering and a Masters in business administration from Strathclyde University, UK.
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