Sector News

Eos Petro adds global energy industry veteran to board of directors

February 19, 2015
News
Eos Petro, Inc., a US-based energy company that acquires, explores and develops oil and gas-related assets on a global basis, today announced that industry veteran Sudhir Vasudeva has joined the company’s board of directors. The addition expands Eos Petro’s Board to five members.
 
Vasudeva, 60, is the former Chairman and Managing Director of Oil and Gas Natural Corporation Limited (ONGC), the largest oil and gas exploration and production company in India, which produces nearly 70% of India’s crude oil and more than 60% of its natural gas, is traded on the National Stock Exchange (NSE), and has a current market capitalization equivalent to more than $46.4 US billion with revenue of $13.67 US billion. Moreover:
 
  • ONGC is the world’s third ranked E&P company per the prestigious Platts ranking, and is 22nd among Platts’ ‘Top 250 Global Energy Companies’ for 2013;
  • ONGC is the only Indian energy major in Fortune’s 2014 Most Admired List under the ‘Mining, Crude Oil Production’ category (No. 7 worldwide – Up three places from the previous year); and
  • ONGC is 21st on Forbes’ Global 2000 list of the world’s largest corporations for 2014.
  • ‘We are pleased to have attracted such a world renowned industry executive to our company, as we embark on a transformative process to further strengthen our team, acquire assets and expand our global presence,’ said Nikolas Konstant, Chairman and Chief Financial Officer of Eos Petro. ‘Sudhir Vasudeva’s leadership in our industry and his deep knowledge of virtually all aspects of the global energy sector will be instrumental in guiding Eos Petro, as we position the company for future growth.’
 
With an engineering background, Vasudeva held a 38-year career with ONGC in various operating and management roles, making significant contributions to the company’s growth. Vasudeva is also the former Chairman of ONGC Videsh Limited (OVL), Mangalore Refinery&Petrochemicals Ltd (MRPL), and five other ONGC Group of Companies (OPaL, OMPL, MSEZ, OTPC and OMEL).
 
Vasudeva expertly guided the development of offshore marginal fields, revitalizing them by applying state-of-the-art technologies and optimization. He was instrumental in developing and implementing innovative technological initiatives; pursuing alternate energy and environmental strategies; overseeing ONGC’s joint venture production activities; spearheading major acquisitions; managing successful exploratory activities; and conceptualizing and managing the implementation of long-term strategic plans that led to enhanced shareholder value.
 
Vasudeva was the first business leader from the Indian public sector to be appointed to the Board of the United Nations Global Compact, where he is serving a three-year term. He is also Chairperson of the Society of Petroleum Engineers Indian Council and recently was appointed as the Council’s first regional director, heading the newly-created South Asia Region. Furthermore, he serves as Chairperson of the board of governors of India’s National Institute of Technology. A recipient of many awards and industry recognitions, Vasudeva received the Platts Global Energy Award as Asia CEO of the Year for 2013.
 
Source: OilVoice

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