ONGC names Sarraf as chairman and managing director


Dinesh Kumar Sarraf is the new chairman and managing director of ONGC and chairman of ONGC Group of Companies.

Sarraf has over 30 years of experience in various facets of oil industry – first in Oil India Ltd. (1983-1991) and then in ONGC since 1991. He has been managing director of ONGC Videsh Ltd. (OVL), tagged as ONGC Group’s growth engine, since September 2011. He helped transform OVL into an aggressive overseas firm, overseeing four deals worth over $11 billion in the past one year. Under his stewardship, OVL bought US energy major Anadarko Petroleum Corp.'s 10% stake in a giant Mozambique gas field for $2.64 billion. This deal arrived on top of the $2.475 billion deal announced in June to buy Videocon's 10% stake (jointly with Oil India Ltd.) in the same field, which may hold as much as 65 trillion cubic feet (Tcf) of gas resources.

Sarraf holds a master's degree in commerce from the University of Delhi. He is also a member of the Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India.

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