Introduction
The Oil and Natural Gas Corporation (ONGC) has recently announced the appointment of Arunangshu Sarkar as the Director for new energy, petrochemicals, and corporate affairs. This move is part of the company’s efforts to revamp and breathe fresh air into the public sector behemoth. In this article, we will delve into the details of Sarkar’s appointment and the implications it has on the company’s future.
Who is Arunangshu Sarkar?
Arunangshu Sarkar is a petroleum engineer from the Indian School of Mines, Dhanbad. He is an ONGC insider, having previously worked as the Group General Manager (Production) at ONGC. Prior to this, he held the position of General Manager (Strategy and Corporate Planning) at ONGC Videsh, the company’s overseas investment arm.
ONGC Corporate Revamp
The ONGC Board was reorganized two years ago to include new posts such as Director (Strategy & Corporate Affairs) and Director (Production). The Director (Production) position was created by merging the Director (Onshore) and Director (Offshore) roles, which were responsible for all oil and gas fields located on land and offshore assets, respectively.
Key Directorial Positions
In addition to the Director (Production) and Director (Strategy and Corporate Affairs) posts, other key directorial positions at ONGC include exploration, finance, human resources, and technical and field services divisions. All of these positions report to Arun Kumar Singh, ONGC’s Managing Director.
New Director (Strategy & Corporate Affairs)
The new Director (Strategy & Corporate Affairs) will be responsible for joint ventures, downstream petrochemicals, new energy (renewable, hydrogen, and carbon capture), corporate strategy, corporate marketing, and legal. The corporate strategy and planning group will be split into two verticals: corporate planning and corporate strategy. Corporate planning will continue to report to the Chairman, while corporate strategy will report to the Director (Strategy and Corporate Affairs).
Ministry and Parliament Coordination Group
The corporate affairs group under CS&P has been renamed as the Ministry and Parliament Coordination Group and will report to the Chief Corporate Planning. This move is aimed at streamlining the company’s corporate affairs and improving its coordination with the government.
Organisation Transformation Project (OTP)
The ONGC’s corporate revamp is on the lines of the Organisation Transformation Project (OTP) suggested by consulting firm McKinsey. Most of the present board-level positions were created in 2001 under a McKinsey OTP plan. McKinsey’s OTP was initiated in 2000 by then ONGC CMD Bikash Bora and implemented despite resistance from within the company by his successor (late) Subir Raha, who renamed OTP as the Corporate Rejuvenation Campaign (CRC).
Conclusion
In conclusion, the appointment of Arunangshu Sarkar as the Director for new energy, petrochemicals, and corporate affairs is a significant move for ONGC. The company’s corporate revamp is aimed at improving its competitiveness and ensuring its long-term sustainability. With Sarkar’s expertise and experience, ONGC is poised to make significant strides in the energy sector.
Frequently Asked Questions
Q1: Who is Arunangshu Sarkar?
Arunangshu Sarkar is a petroleum engineer from the Indian School of Mines, Dhanbad, and an ONGC insider with experience in production and strategy.
Q2: What is the ONGC Corporate Revamp?
The ONGC Corporate Revamp is a restructuring effort aimed at improving the company’s competitiveness and ensuring its long-term sustainability. It involves the creation of new directorial positions and the realignment of existing roles.
Q3: What is the role of the Director (Strategy & Corporate Affairs)?
The Director (Strategy & Corporate Affairs) will be responsible for joint ventures, downstream petrochemicals, new energy (renewable, hydrogen, and carbon capture), corporate strategy, corporate marketing, and legal.
Q4: What is the Ministry and Parliament Coordination Group?
The Ministry and Parliament Coordination Group is a new group under the corporate affairs department that will report to the Chief Corporate Planning. Its role is to streamline the company’s corporate affairs and improve its coordination with the government.
Q5: What is the Organisation Transformation Project (OTP)?
The Organisation Transformation Project (OTP) is a consulting firm McKinsey’s plan to restructure ONGC. It was initiated in 2000 and implemented in 2001 under the leadership of then ONGC CMD Bikash Bora.
