New Delhi: The Public Enterprises Selection Board (PESB) has picked Anupam Agarwal for the post of Director (Finance) of ONGC Videsh Ltd, a notification said on Monday. Agarwal is current serving as Executive Director (ED) with Oil & Natural Gas Corporation (ONGC) and was picked for the post from a list of nine candidates who were interviewed by the PESB on Monday. 

Including Agarwal, five of the shortlisted candidates were from ONGC — three Executive Directors, one Chief General Manager and one Group General Manager. There was one candidate from ONGC Videsh and one each from Indian Oil Corporation (IOC), Pashchim Gujarat Vij Co Ltd (PGVCL) and Indraprastha Gar Limited (IGL). 

Currently, ONGC Videsh's Managing Director & Chief Executive Officer (CEO) Alok Kumar Gupta is holding additional charge of two positions — Director (Operations) and Director (Finance). Therefore, Agarwal is expected to soon take charge of the post after receiving a clearance. 

ONGC Videsh is the wholly owned subsidiary and overseas arm of ONGC. The primary business of ONGC Videsh is to prospect for oil and gas acreages outside India, including exploration, development and production of oil and gas. ONGC Videsh owns Participating Interests in 35 oil and gas assets in 15 countries and produced about 30.3 percent of oil and 23.7 percent of oil and natural gas of India's domestic production in 2019-20. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)