Essar Oilfields ropes in Ankur Gupta, IITD 88, BT, EL,  as new CEO

NEW DELHI: Essar group-led Essar Oilfields Services has roped in Sriram Group’s Ankur Gupta as its new chief executive officer (CEO) with immediate effect, said a person privy to the development. The 43-year-old veteran, who is taking over from AR Ramakrishnan, will oversee and manage the entire drilling operations of the company.

Prior to his appointment at Essar, Mr Gupta was the chief executive at Orient Green Power, a part of Sriram EPC Group. Mr Ramakrishnan, also a whole time director, will continue to head business development and strategy division at Essar Shipping and Logistics, said another person privy to the company’s plans. Mr Ramakrishnan has been associated with the Essar group for almost 20 years now and was given additional role of a chief executive at Essar Oilfields a year-and-a-half ago.

Mr Gupta has been associated with oil and gas business for over 22 years now. In his capacity as chief executive, Mr Gupta will manage onshore and offshore drilling services of Essar Oilfields and report to Essar Shipping managing director Sanjay Mehta.

Essar Oilfields is a subsidiary of Essar Shipping Ports and Logistics which, in turn, is part of the Essar Group that has interests ranging from steel and shipping to refining. Recently, Essar group said it will spend $1 billion in its drilling business, which contributes at least 25% to overall group’s revenues.

Essar Oilfields’ current fleet includes a semi-submersible offshore and twelve land rigs. The firm draws revenues of more than Rs 2,600 crore annually. When contacted, Mr Gupta refused to comment on his appointment at Essar. The Essar group spokesperson was not available for comment on the developments.

Mr Gupta took over as a chief executive at Orient Green Power’s Chennai office four months ago. But due to certain personal problems, Mr Gupta was left with no choice but to move to Mumbai on a new assignment. Mr Gupta, an electrical engineering graduate from IIT Delhi, started his career with Schlumberger, a global oil field and information services company. He worked with the company in various capacities and places including the UK, US and France for almost 15 years. He later joined Paradigm Geophysical as a vice-president, Asia Pacific.