MMUMBAI: Essar Global Fund Ltd (EGFL) today announced the appointment of Mr Pankaj Kalra as Chief Financial Officer & Head-Strategy, Essar Exploration & Production Ltd Mauritius (EEPLM), the downstream energy arm of the Essar Group and a key portfolio company of EGFL.
Mr Kalra will be responsible for overseeing the strategic financial management of EEPLM and its subsidiaries. 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. Additionally, he will lead the Board of Directors of EEPLM and its subsidiaries.
Mr Kalra has 22 years of work experience and a demonstrated track record of working across multiple sectors. His functional skill set includes expertise in M&A, fundraising (both onshore and offshore), accounting, internal controls, procurement and financial modelling. Prior to joining Essar, he was the CFO of Cairn Oil & Gas, and has been associated with Reliance, Aircel, Idea, American Tower and EY. Mr Kalra 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 US $1.1 billion in EEPLM.
These investments include:
EEPLM recently made a significant discovery of gas and condensate in its Vietnam offshore block. The Company is also breaking new ground in the unconventional hydrocarbon space in India and has emerged as a pioneer in CBM development and production. It seeks to utilise this experience and expertise to explore, develop and commercialise its other unconventional acreages towards enhancing the country’s energy security. With an independently assessed shale gas resource base in India, it is also poised to become a pioneer in this emerging energy frontier.
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