NEW DELHI: Oil and Natural Gas Corporation (ONGC) has acquired a new director to spearhead its new vitality, petrochemicals and company technique as a part of a board revamp aimed toward respiratory recent life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for technique and company affairs, ONGC stated in a inventory alternate submitting.
Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had beforehand labored as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd – the abroad funding arm of ONGC.
Two years again, the board of ONGC was reorganised. Besides creating the new submit of Director (Strategy & Corporate Affairs), the submit of Director (Production) was created after merging Director (Onshore), who’s in command of all oil and gasoline fields positioned on land, and Director (Offshore) who takes care of all offshore belongings, such because the prime Mumbai High fields.
In addition to the submit of Director Production and Director Strategy and Corporate Affairs, the opposite key directorial positions at ONGC embody the exploration, finance, human sources and technical & area companies divisions, with all segments reporting to ONGC Managing Director Arun Kumar Singh.
According to an workplace order of July 2023, the new Director (Strategy & Corporate Affairs) will probably be in command of joint ventures, downstream petrochemicals, new vitality (renewable, hydrogen and carbon seize), company technique, company advertising and authorized.
“Present corporate strategy and planning (CS&P) group (will) be split into two verticals viz corporate planning and corporate strategy. Corporate planning would continue to report to the chairman, whereas the corporate strategy group would report to the director (strategy and corporate affairs),” it stated.
The company affairs group below CS&P has been renamed because the ministry and parliament coordination group and can report to chief company planning, it added.
The revamp is on the traces of the Organisation Transformation Project (OTP) instructed by consulting agency McKinsey.
Most of the current board-level positions had been created in 2001, below a McKinsey OTP plan. McKinsey’s OTP was initiated in 2000 by then ONGC chairman and managing director Bikash Bora and applied regardless of resistance from throughout the firm by his successor (late) Subir Raha, who renamed OTP because the Corporate Rejuvenation Campaign (CRC).
In 2001, in step with McKinsey’s suggestions, ONGC’s Director – Personnel was renamed Director HR, the Director – Operations turned Director – Offshore, Director – Technical turned Director – Onshore, whereas Director – Drilling turned Director – Technology and Oilfield Services.
The Exploration and Finance titles had been unchanged.
The second part of McKinsey’s suggestions is being applied now, sources stated, including that the corporate administration has been discussing the board-level revamp with the mum or dad administrative Ministry of Petroleum and Natural Gas since mid-2021.
The place of Director (Research and Development) was additionally instructed, however this has not been applied but.
ONGC, in March 1997, initiated a venture for restructuring of the corporate in session with worldwide administration marketing consultant McKinsey and Company Inc.
The consultants submitted their suggestions on the Organisation Transformation Project (OTP) of ONGC to its administration in phases throughout the years 1997 to 1999.
The suggestions highlighted the necessity to have a higher give attention to ONGC’s core actions of discovering and producing oil and gasoline, higher administration of abilities and experience in oil area companies, higher business and efficiency accountability and faster decision-making by decentralisation.
McKinsey had referred to as for the necessity for focussed consideration on structural modifications and in addition modifications in techniques and procedures within the areas of exploration, reservoir administration, drilling, materials administration, logistics, human sources, budgeting and costing, efficiency administration techniques, analysis and growth institutes and knowledge companies.
In the primary a part of its report, McKinsey instructed that ONGC ought to give attention to reserve accretion and growing output, promote organisational and particular person accountability and performance with business objectives uppermost in thoughts.
It had recognized 4 thrust areas — reserve accretion, business accountability, multi-disciplinary approaches and abroad alternatives important for ONGC to preserve its dominant place within the Indian oil sector.
From a useful view, McKinsey instructed that totally different departments function in a cross-functional method, pooling expertise and experience from different departments.
ONGC in pre-2001 had 4 departments — drilling, operation/manufacturing, technical, and private and accounts, which frequently led to fragmentation of efforts.
Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had beforehand labored as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd – the abroad funding arm of ONGC.
Two years again, the board of ONGC was reorganised. Besides creating the new submit of Director (Strategy & Corporate Affairs), the submit of Director (Production) was created after merging Director (Onshore), who’s in command of all oil and gasoline fields positioned on land, and Director (Offshore) who takes care of all offshore belongings, such because the prime Mumbai High fields.
In addition to the submit of Director Production and Director Strategy and Corporate Affairs, the opposite key directorial positions at ONGC embody the exploration, finance, human sources and technical & area companies divisions, with all segments reporting to ONGC Managing Director Arun Kumar Singh.
According to an workplace order of July 2023, the new Director (Strategy & Corporate Affairs) will probably be in command of joint ventures, downstream petrochemicals, new vitality (renewable, hydrogen and carbon seize), company technique, company advertising and authorized.
“Present corporate strategy and planning (CS&P) group (will) be split into two verticals viz corporate planning and corporate strategy. Corporate planning would continue to report to the chairman, whereas the corporate strategy group would report to the director (strategy and corporate affairs),” it stated.
The company affairs group below CS&P has been renamed because the ministry and parliament coordination group and can report to chief company planning, it added.
The revamp is on the traces of the Organisation Transformation Project (OTP) instructed by consulting agency McKinsey.
Most of the current board-level positions had been created in 2001, below a McKinsey OTP plan. McKinsey’s OTP was initiated in 2000 by then ONGC chairman and managing director Bikash Bora and applied regardless of resistance from throughout the firm by his successor (late) Subir Raha, who renamed OTP because the Corporate Rejuvenation Campaign (CRC).
In 2001, in step with McKinsey’s suggestions, ONGC’s Director – Personnel was renamed Director HR, the Director – Operations turned Director – Offshore, Director – Technical turned Director – Onshore, whereas Director – Drilling turned Director – Technology and Oilfield Services.
The Exploration and Finance titles had been unchanged.
The second part of McKinsey’s suggestions is being applied now, sources stated, including that the corporate administration has been discussing the board-level revamp with the mum or dad administrative Ministry of Petroleum and Natural Gas since mid-2021.
The place of Director (Research and Development) was additionally instructed, however this has not been applied but.
ONGC, in March 1997, initiated a venture for restructuring of the corporate in session with worldwide administration marketing consultant McKinsey and Company Inc.
The consultants submitted their suggestions on the Organisation Transformation Project (OTP) of ONGC to its administration in phases throughout the years 1997 to 1999.
The suggestions highlighted the necessity to have a higher give attention to ONGC’s core actions of discovering and producing oil and gasoline, higher administration of abilities and experience in oil area companies, higher business and efficiency accountability and faster decision-making by decentralisation.
McKinsey had referred to as for the necessity for focussed consideration on structural modifications and in addition modifications in techniques and procedures within the areas of exploration, reservoir administration, drilling, materials administration, logistics, human sources, budgeting and costing, efficiency administration techniques, analysis and growth institutes and knowledge companies.
In the primary a part of its report, McKinsey instructed that ONGC ought to give attention to reserve accretion and growing output, promote organisational and particular person accountability and performance with business objectives uppermost in thoughts.
It had recognized 4 thrust areas — reserve accretion, business accountability, multi-disciplinary approaches and abroad alternatives important for ONGC to preserve its dominant place within the Indian oil sector.
From a useful view, McKinsey instructed that totally different departments function in a cross-functional method, pooling expertise and experience from different departments.
ONGC in pre-2001 had 4 departments — drilling, operation/manufacturing, technical, and private and accounts, which frequently led to fragmentation of efforts.
