Essar Oil – Company Update
January 2008
Strictly Private & Confidential
Confidential
Disclaimer
All information and material in this presentation is provided by Essar Oil Limited (“Company”) on an "as is" basis. No information contained herein
has been verified for truthfulness completeness, accuracy, reliability or otherwise whatsoever by anyone. While the Company will use reasonable
efforts to provide reliable information through this presentation, no representation or warranty (express or implied) of any nature is made nor is any
responsibility or liability of any kind accepted by the Company or its directors or employees, with respect to the truthfulness, completeness,
accuracy or reliability or otherwise whatsoever of any information, projection, representation or warranty (expressed or implied) or omissions in this
presentation. Neither the Company nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from any use or reliance on this
presentation or its contents or otherwise arising in connection therewith.
This presentation may not be used, reproduced, copied, published, distributed, shared, transmitted or disseminated in any manner.
This presentation is for information purposes only and does not constitute an offer, invitation, solicitation or advertisement in any jurisdiction with
respect to the purchase or sale of any security of Essar Oil Limited (the “Company”) and no part or all of it shall form the basis of or be relied upon in
connection with any contract, investment decision or commitment whatsoever. No offering of securities of the Company will be made except by
means of a statutory offering document containing detailed information about the Company.
This presentation is not a complete description of the Company. Certain statements in the presentation contain words or phrases that are forward
looking statements based on currently held views and assumptions of management which are expressed in good faith. All forward-looking
statements are subject to risks, uncertainties and assumptions that could cause actual results, financial conditions, performance or achievements of
the Company/Industry to differ materially from those contemplated / implied by the relevant forward looking statement. No opinion, estimate or
projection herein constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be
consistent with any such opinion, estimate or projection and hence, all concerned are cautioned not to place undue reliance on these statements.
The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it
may not contain all material information concerning the Company. We do not have any obligation to, and do not intend to, update or otherwise revise
any statements reflecting circumstances arising after the date of this presentation or to reflect the occurrence of underlying events, even if the
underlying assumptions do not come to fruition.
2
Confidential
Table of Contents
Essar Group Overview
Refining Business Overview
Refining Opportunity: Delivering Value
Exploration and Production Business
Marketing and Distribution Business
Management Team
3
Essar Group Overview
Confidential
Essar: Amongst the Leading Indian Business Houses
Essar Group
Steel
Business
Energy
Business
Essar Steel
Essar Oil
4.6 MTPA Integrated
Steel Plant (‘ISP’)
Refining
Essar Steel - Hazira
Refinery Complex - 10.5
MMTPA
4 MTPA ISP *
Essar Steel Orissa
Expanding capacity to
34 MMTPA
6 MTPA Pellet Plant*
Algoma Steel, Canada
4.0 MTPA ISP
1,274 Retail Outlets
Minnesota Steel, US
•6 MTPA Pellet Plant*
•1.4 biliion tonnes Iron
Ore Reserves
Exploration &
Production Blocks:
P T Essar Indonesia
0.4 MTPA cold rolling
Complex
Essar Steelhypermart
5
Oil Retail Marketing
▪ Ratna, India
▪ Mehsana, India
▪ Raniganj, India
▪ Assam
▪ Madagascar (1)
▪ Nigeria (1)
Communications
Business
Vodafone Essar
40 million subscribers
Telecom Tower &
Infrastructure
3,500 towers
Essar Telecom Retail
Chain of over 450 retail
outlets
Aegis - BPO
Amongst the largest
BPO’s in India, with 9
centers in India and 9
centers in USA
BPL Mobile
1 Million subscribers
Kenyan Mobile
License
(1)Subject to neccessary approvals for transfer
(2) In the process of owning a majority stake of upto 74%
* Projects under implementation
Power
Business
Essar Power / Bhander
Power Existing
1015 MW combined
cycle
Expansion
ƒEssar Power (MP)
Limited – 1200 MW
ƒEssar Power (Gujarat)
Limited – 1200 MW
ƒEssar Power
Jharkhand Limited –
1200 MW
Vadinar Power
(2)
• Power Generation
Capacity of 77MW
being expanded to
457MW
Construction
Business
Shipping
Business
Essar Construction
Essar Shipping
▪ Engineering
▪ Fabrication
▪ Construction
Fleet of 25 vessels,
DWT of 1.31 mn
Fully geared to execute
turnkey EPC jobs in
India and Overseas
Terminal facility of 33
MMTPA – Liquid Cargo
being expanded to 96
MMTPA
Global Supplies
(UAE)FZE
Global procurement
company
Vadinar Oil
Terminal
Essar Oilfields
A drilling company with
13 rigs
Essar Logistics
Owns and operates
transshipment assets
Essar Bulk Terminal
• Steam capacity of
230TPH being
expanded to 2580TPH
Dry bulk port facilities
Confidential
Rapid Growth in Core Sectors, built on Firm Foundation
Steel
Energy
Shipping
Telecom
Construction
Power
6
2nd Largest
domestic private
player
2nd Largest
domestic private
player
• Expanded capacity to 8.6 MTPA in India and Canada with over
US$ 5.4bn investment
• Further expansion of 6.5 MTPA with a US$ 4.9bn investment planned
• Set up 10.5 MMTPA refinery
• Expanding to one of the largest refineries globally - further promoter
commitment of US$ 2 bn
2nd Largest
domestic private
player
• Built one of the world’s leading integrated sea logistics companies
• Shipping, port, oil-field services, terminals
• Liquid / solid cargo capacity to expand from 50 MTPA to 130 MTPA
3nd Largest
telecom
operator
• ~33% stake in Vodafone Essar - Over 40 million subscribers
• 3,500 telecom towers and 450 telecom retail stores
Amongst the
Largest domestic
private player
First private
Independent Power
Plant in India
• Unique expertise in industrial projects across core sector
• Executed EPC projects worth over US$ 12.5 bn
• Set up power capacity of over 1,000 MW
• Expanding to 4,000 MW by 2010 with investment of US$ 3.5 bn to gain pan
India presence
Essar Group has grown to become amongst the top five diversified corporate
houses in India with assets of over US$ 15 bn and revenues in excess of US$ 8 bn
Confidential
With A Long-Term Growth Vision For The Energy Sector
Setup Indian retail network
of 5,000 outlets and
establish footprint in
important export markets
Significant Presence
throughout hydrocarbon
value-chain
Target refining capacity –
1 million bpd with state of
the art technology
Crude Oil - 30% of
refining capacity
Gas – 100% of group feed
stock requirement
Vision to be a fully integrated energy group with global footprint
7
Confidential
Becoming An Integrated Energy Company
Refining
● Existing 10.5 MMTPA refinery
● Expansion to 34.0 MMTPA
● Expansion to 34 MMTPA at an
estimated project cost of US$6
billion expected to be completed by
December 2010
● Significant group synergies,
including captive infrastructure –
captive EPC, port & terminal facility
and power plant
8
Exploration
Domestic
● Ratna
● Mehsana
● Raniganj
● Assam
International*
● Madagascar
● Nigeria
● 50% interest in Ratna and R-Series
blocks in India (Gross 2P reserves of
146.85 mmbbl of oil and 89.40 Bcf of
gas)
● 70% interest in CB-ON/3 development
block in Mehsana, India (Gross 2P
reserves of 2.71 mmbbl of oil and
1.58bcf of gas)
● Significant potential from other
exploration portfolio
Marketing
● Develop & Maintain well spread
out distribution network
● Presently 1,274 retail outlets
● 16 supply points spread across
India
– 7 terminals and 9 depots
● Well positioned to capture
petroleum retail growth opportunity
Aiming to become an integrated company with global footprint
* Subject to neccessary approvals for transfer
through organic and inorganic growth
Note: Reserves as per RPS Scott Pickford estimates
Essar Oil: Refining Business Overview
Confidential
Strategically Located World Class Refinery
Operational Highlights
●
●
●
●
●
●
●
Recently commissioned 10.5 MMTPA capacity refinery at Vadinar, Gujarat (in November 2006)
Designed as a cracking refinery utilising FCC as major conversion technology with complexity of 6.1
Location advantage at Vadinar, Gujarat
Internationally acclaimed technology from process licensors (ABB, Axens, Shaw Stone & Webster, Stork Comprimo, Merichem etc)
Currently capable of producing Euro II/III Products, processed about 45 million barrels of crude
Significant tax benefits
Home market demand (PSU and private refiners) could provide strong market for our products
Domestic
Demand
Customers
Vadinar
Euro II / III
Markets
Globally
Suppliers
Refinery is up and running with key captive infrastructure in place
10
Confidential
End to End Infrastructure in Place with Ability to Ramp Up Capacity
7 km
22 km
SBM
18 km
COT
Water Intake
Captive Power Plant
Main Refinery
CDU / VDU
VBU Treaters
NHT / CCR
FCCU
DHDS
Dispatch Area
Truck Gantry
Rail Gantry
Product
Jetty
Administration
11
Existing Infrastructure to reduce expansion cost
ARU/ SRU
Confidential
..And Ability to Leverage Synergies with Group Companies
Essar Shipping
SBM
Port Handling
Tank Farms
Vadinar Oil Terminal Limited
Refinery
Essar
Construction
Essar Steel
12
Vadinar Power
Plant
Township
Refining Opportunity: Delivering Value
Confidential
Ramping up Capacity to 34 MMTPA with Complexity of 12.8
Base
Refinery
Particulars
Total Capacity post
Expansion
12.8 Complexity,
34.0 MMTPA
Refinery Details
6.1 Complexity,
10.5 MMTPA
API (Density), Avg.
35.5
24.8
Sulphur %, Avg.
2.0%
2.97%
Product Grades
Upto Euro III
Upto Euro V / US Specs
Designed to handle high acidity crudes upto 2 TAN
14
Confidential
..With Capability to Produce 16 MMTPA Euro V Products
●
●
●
●
Largest producer of EURO V MS & HSD from a single refinery location
Euro V grade maximised at 90% in MS pool
Euro V grade maximised at 61% in HSD pool
Lighter products provide flexibility for potential petrochemical expansion
Gasoline: 9.6 MMTPA
Euro IV
10%
Gasoline
24.7
28.2
Euro V
90%
Diesel
Diesel: 12.2 MMTPA
31.2
Euro IV
28%
35.9
Aviation Turbine
6.0
Kerosene
Others
7.6
5.4
7.2
Fuel Oil
11.3
LPG
Fuel & Loss Residue
6.6
10.5 MMTPA *
15
2.9
Propylene
11.2
5.0
Pet Coke
34 MMTPA *
* Expected and could change from time to time depending on market dynamics
Note: Products as % of total
Euro V
61%
8.1
3.4
5.3
Euro II
11%
Confidential
…and Leverage Light Heavy Differential
Ability to Process Wide Range of Crudes
Medium /
Sour
15%
Heavy Sour
10%
Light /
Sweet
0%
Capacity
(MMTPA)
API (Av.)
34
24.8
10.5
35.5
Tough
75%
● Light heavy differential expected to remain high
Light /
Sweet
30%
Tough
10%
Heavy Sour
20%
And Leverage Light Heavy Differential
Leverage Processing
● Since January 2007 the monthly average
differential between Bonny Light and Maya has
been between $13.47/bbl and $18.08/bbl
Crude Processing
Medium /
Sour 40%
100
Value - $/bbl
90
80
70
60
50
40
Jan-06
Source – Bloomberg
16
Apr-06
Jun-06
Bonny Light
Sep-06
Arab Light
Dec-06
Mar-07
Arab Heavy
Jun-07
Sep-07
Maya
Dec-07
Confidential
Expansion Scheduled to Come On-stream in 2010
UOP Mandated
●
Maximize Euro V
product slate
●
Heavy, sour acidic
crude acidity processing
●
Train I
Optimization
Development
●
UOP developed LP
model and carried 300
LP runs
●
Final configuration for
Train I and II
Petchem integration
Activity
Q1
2007
Q2 Q3
Q4
Train II
Expansion
●
10.5 MMTPA to 16.0
MMPTA
●
18 MMTPA capacity
configured
●
Revamps, modification
and addition of new
process units
●
Mostly Repeat units
●
Integration with Train I
Q1
2008
Q2 Q3
Q4
Q1
2009
Q2 Q3
Refinery Expansion10.5 to 34 MMTPA
Basic Engineering
Detailed Engineering
Procurement of Long lead Items
Delivery of Equipment/ Material
Construction/ Erection
Mechanical completion
Oil in
● The upgradation of existing assets would add to interim cash-flows until 2010
● Procurement of Long Lead items to be complete by Q2 2008
Project is On Track to Create the Refinery
17
Q4
2010
Q1 Q2 Q3
Q4
Confidential
On Track with Support from World Class Partners
●
Essar Oil Limited’s PMC subcontracts EPC work
Basic
Engineering
●
●
●
Overall Basic
Engineering completion
status – 90% - Balance
by 1Q ’08
LLI Datasheets
generated on high
priority kick start
procurement
Completed Basic
Engineering for all units
for Trains I & II except
five units
Detailed
Engineering
●
●
Overall Detailed
Engineering Completion
Status – 20% - Balance
by 1Q09.
Overall Plot Plan Layout
frozen & Unit wise
layout of most process
units, utilities &
infrastructure facilities
completed – fronts and
drawings released to
commence civil work
Procurement
●
●
●
40% of enquiries for the
equipment and bulk
materials already
floated
All LLIs to be ordered
by 2Q’08.
75% of Balance
Equipment/Materials to
be also ordered by 2
Q’08
Construction
●
●
Site already mobilised
with base refinery
contractors, equipment
& workers
Civil work for expansion
has commenced
Key Contracts
Engineering
Construction
18
Leverage existing vendor relations for rapid execution of expansion
Confidential
Planned to be Financed through a D/E of 1.3:1.0
Estimated Project Cost for Expansion
Cost Head
US$ milllion
Low Cost of Capital
(%)
34.0 MMTPA
Land & Buildings
50
1%
4,614
77%
Project Management & Engineering Fees
246
4%
Preliminary & Preoperative Expenses
105
2%
Financing Cost
656
11%
Contingency
329
5%
6,000
100.00
Plant & Machinery
Total Project Cost
1037
18.0 MMTPA
797
10.5 MMTPA
2630
0
500
1000
1500
2000
Cost (USD/bpd/complexity)
Key Highlights
●
●
●
19
GDS infusion of US$ 2bn by promoters in two tranches
Base refinery to be virtually debt free post GDS
Fresh debt of upto US$ 5.3 billion to be raised through ECB and INR Loans
Current financing structure provides adequate flexibility for
future requirements and growth capital
2500
3000
Confidential
Refinery Business: Set to Deliver Strong Value
Strategic
Strategic Location,
Location, Proximity
Proximity
to
to Materials,
Materials, Access
Access to
to End
End
Markets
Markets
Leverage
Leverage Existing
Existing Project
Project
Execution
Execution Capabilities
Capabilities and
and
Infrastructure
Infrastructure
India
India Emerging
Emerging as
as aa Global
Global
Refining
Hub
Refining Hub
One
One of
of the
the Largest
Largest Single
Single
Location
Location Refineries
Refineries Globally
Globally ––
Economies
Economies of
of Scale
Scale Benefits
Benefits
Refining
Refining Industry
Industry Outlook
Outlook
Remains
Strong
Remains Strong
High
High Complexity,
Complexity, Cost
Cost
Competitiveness,
Competitiveness,
Product
Product Flexibility
Flexibility and
and High
High
GRM
GRM Potential
Potential
Building an Environmental Friendly “Green Merchant Refinery”
20
Exploration and Production Business
Confidential
E&P Assets
Develop: CB-ON/3
● 70% operatorship interest
in Mehsana
● Estimated working interest
reserves of 0.60 mmbbl of
oil & 0.61bcf of gas(1P)
and 1.90mmbbl of oil &
1.11bcf of gas (2P)
Assam
● 2 exploration blocks (100%
interest)
Note: Reserves as per RPS Scott Pickford estimates
West Bengal
Ratna
● 50% joint operators interest
in Ratna & R series blocks
Nigeria *
● 100% interest in RG(East)CBM-2001/1 block in
Durgapur, WB
● Estimated working interest
reserves of 41.14mmbbl of
oil and 26.72 bcf of gas
(1P) and 73.43 mmbbl of
oil and 44.70 bcf of gas
(2P)
● 63% interest in OPL 226
exploration block
Madagascar *
● 3 exploration blocks (100%
interest)
* Subject to transfer to EOL
22
Strong E&P footprint with plans to bid for more blocks in the next NELP round
Confidential
Ratna & R-Series Development Fields
●
Essar - 50%, ONGC - 40%, Premier Oil - 10% with Joint operatorship
●
90 km South West of Mumbai in petroliferous regions of Bombay High, Bassein, Heera and
Neelam fields
●
Aerial extent of ~ 1,000 Sq Km with 45-50 meters water depth
●
38 exploration and 10 development wells drilled previously. Nearby discoveries in Panna, Mukta,
Heera and Neelam
Petroleum System
●
Crude Quality 35 - 39° API
Development Plan
●
New wells, reactivation of old wells, refurbishment of infrastructure and construction of new pipeline
Participating Interest
Location
Area
Work Done
23
Estimated Working Interest
Reserves (2P)
~ 80.88 mmboe
- Crude Oil (2P)
73.43 mmbbls
- Natural Gas (2P)
44.70 bcf
Block to reach 2P
2P certified
Note: Ratna block development Subject to neccessary approvals
Reserves as per RPS Scott Pickford estimates
Confidential
CB-ON/3 – Mehsana – Development Field
Participating Interest
●
Essar – 100% (70%) with ONGC – 30% (back-in rights on discovery)
Location
●
Petroliferous Cambay basin of Gujarat, India having a string of discoveries
Area
●
Original area of 574 Sq Km
Work Done
●
●
180 Sq Km of 3D seismic has been acquired, 1,300 Lkm of 2D reprocessed and 8 wells drilled
5 prospects identified and discoveries in 3 prospects - Prospect B, Prospect A and Prospect F
Petroleum System
●
Crude quality: Varying between 12° API to 35° API
Development Plan
●
Exploratory drilling in progress in Prospect G
Production Profile
Prospect B
Estimated Working Interest
Reserves (2P)
2.09 mmboe
- Crude Oil (2P)
1.90 mmbbl
- Natural Gas (2P)
Prospect to reach 2P
Commercial Production
24
1.11 bcf
2P certified
Q1 FY 2007-08
Confidential
Block OPL 226 – Nigeria
25
Participating Interest
●
63% interest in OPL 226 exploration block
Location
●
Nigeria
Petroleum System
●
Crude quality: around 35° API
Development Plan
●
Work commitments include G&G studies, 3D seismic and drilling of wells
Exploratory wells (nos.)
3
Appraisal/Prod. wells (nos.)
8
No. of Platforms
2
Confidential
Raniganj CBM Block
Participating Interest
●
Essar -100%
Location
●
Coaliferous belt of the Eastern Raniganj Coalfields, West Bengal
Area
●
500 Sq Km
●
Exploration Phase I commenced 29th March 2005 and voluminous data on coal has been
generated since
●
Drilling of horizontal multilateral test wells for establishing the test flow potential of Raniganj Coal
seams likely to begin in the 2nd quarter of CY2008
Work Done
Development Plan
No. of Multilateral wells
Calorific Value
90
850 btu
DURGAPUR
26
Marketing and Distribution Business
Confidential
India: Amongst the world’s fastest growing energy consumers
Demand & Supply of Oil
Per Capita Consumption of Energy (kgoe)
Constrained supply builds pressure on additional capacity...
400
360
In per-capita consumption India ranks 20th
10
350
8
250
200
170
150
6
190
120
100
80
70
30
50
4
120
2
40
30
0
0
1990-00
2001-02
2006-07E
2011-12E
Production+Oil Equity
Source: Government of India and EOL estimate.
2024-25E
Demand
C
SA
R
a
si
us
y
ea
ce
an
or
an
m
K
Fr
er
th
G
u
o
S
U
.
.K
in
pa
S
ly
Ita
U
ca
ne
fri
ai
A
kr
th
u
o
S
n
Ira
o
ic
ex
M
na
hi
C
l
zi
ra
B
a
si
ne
do
In
a
di
In
ld
or
W
190
140
170
million tonnes pa
120
100
80
60
40
20
0
150
130
110
90
Consumpion
Source: Government of India and Crisil
Source: Government of India and Crisil
Refining Capacity excluding committed exports
Refining Capacity
2011
2010
2009
2008
2007
2006
2005
2004
Others
2003
Fuel Oil
2002
Diesel
2001
Kerosene
2000
05
-0
20
6
06
-0
20 7E
07
-0
20 8E
08
-0
20 9E
09
-1
20 0E
10
-1
1E
04
-0
5
20
03
-0
4
20
02
-0
3
20
20
01
-0
2
Naphtha
50
1999
Gasoline
20
00
-0
1
20
99
-0
0
19
98
-9
9
19
97
-9
8
70
LPG
28
n
pa
Ja
Petroleum Demand Supply trends
160
(Mton)
a
lia
bi
ra
ra
st
A
Au
di
u
Sa
U
Source: IEA
Petroleum Products Demand
19
a
ad
an
1998
(million tons)
300
Confidential
Oil Distribution and Marketing
Presence across India with 1,274 retail Outlets
y First private company in India to enter petro-retailing
sector (2003) through a franchisee model
Own Supply Points spread
all across India
53
y Existing platform can be rapidly ramped up after
emergence of favorable regulatory policy
8
8
53
1
2
175
y Existing government subsidies for transportation fuels
unfavorable for development of retail marketing
187
1
37
2
1
y MoU with some Oil Companies for product offtake
and infrastructure sharing
1
30
103
4
4
30
93
3
19
33
163
16 supply points - 7
terminals and 9 depots
73
69
y Focus on exports / OMC & bulk domestic sales in
prevailing pricing regime
1
35
29
59
Designed to optimize profits as well as balance short and long term objectives
Management Team
Confidential
Experienced Management Team
Senior Management
Naresh K Nayyar
Managing Director
„ Chartered Accountant and IIM, Ahmedabad Alumnus
„ 33 years of experience in Oil & Gas sector including development of multi billion dollar project, new markets and global operations in Oil & Gas Industry
„ Was on the Board of reputed companies like IOC, ONGC, IBP and Petronet LNG
Suresh Mathur
Whole-time Director
„ Chartered Accountant with over 40 years of experience mainly in Oil & Gas sector
„ Was the CEO & MD of Petronet LNG Limited, which under his leadership set up India’s first LNG import and regasification terminal of 5 MMTPA capacity at
Dahej and was Director Finance at IOC
Sourcing
31
Refining
E&P
Marketing
Daryl Pattison
Eion Turnbull
S. R. Agrawal
Mr. Thangapandian
Head – IST
„ 35 years of working internationally
in the energy
industry
„ Responsible for the International
supply and Trading
Head – Refinery
„ Over 27 years of experience in
operations, research and
technology and projects
Head of the E&P division
„ Chartered Accountant with over
30 years experience in oil & gas
Head - Marketing
„ Over 25 years of experience in the Oil
and Gas industry in Sales & Marketing
Sheikh Shaffi
Mohan Kumar
V Suresh
Adi Shroff
Raj Verma
CFO – Refinery
„ Qualified Chartered
Accountant & Company
Secretary
„ Over 25 years experience
across IB/ consultancy/
Industry across verticals
CIO – System Engineer
„ Over 36 years of IT
experience
Head – HR
Head - Buss. Development Company Secretary
„ 47 years of experience in „ Over 30 years of experience in „ Post Graduate from XLRI
Legal, Secretarial, Compliances „ Certified instructor for Blake and
Indian oil industry
Mounton’s GRID Management
programs
Strong and Experienced Management Team in Place
Confidential
Project Leadership
Experienced Execution Team
Shyam Bagrodia
Gordon Clarke
B. K. Mukherjee
President – Refinery Expansion
Project Director – PMC Group
Technical Head
„ B. Tech (Hons.)- IIT, Kharagpur ; MBA from
„ B.Sc. (Hons) from Salford University
„ Over 31 years of rich experience, 9 years as Project
„ Chemical Engineer with an illustrious experience
University of Rochester, NY
„ 37years experience in Chemical, Cement,
Edible Oil and Petroleum Industries; including
setting up of Green Field Projects
„ Worked with the refinery since inception;
managed Commercial, Financial & ABB
Project Execution
of more than 38 years with IOCL as Executive
Director of Gujarat Refinery for 2 years & the
Executive Director of Haldia Refinery for 3 years
„ Responsible for completion & commissioning of
Base Refinery after restart in 2005
Blair Jackson
Shailesh Sawa
Eugene Schmelzer
Head – Construction (PMC Group)
CFO – Refinery Expansion
Consultant - Technical Services
„ B.Eng (Hons) from Bolton Institute
„ More than 23 years of project construction
„ Chartered Accountant & Cost Accountant
„ More than 25 years of experience into
Corporate Finance having worked with Gujarat
Ambuja and SEBI
„ B.S.(Chemical)
management experience in the O&G industry
32
Director at Foster Wheeler and 4 years as Head of
Central Planning at Shell Brunei
„ Worked with LASMO, Kerr McGee Oil, Davy
Offshore Ltd., Heerema/Lewis Offshore, Shell Expro
„ Previously worked with Bechtel OG&C Ltd. as
a Project Construction Manager, John Brown
Hydrocarbons Ltd., Kvaerner Process (UK)
Ltd.
from
Case
Institute
of
Technology and a certified Six Sigma Green Belt
„ Recently retired as Director of Engineering after
a career that spanned more than 38 years of rich
experience with UOP overseeing Refinery
process technology, R&D and process design
engineering areas
D.K. Jha
D.K. Shukla
Albert Rolnik
Head – Refinery Execution (OSBL)
Head – Refinery Execution (ISBL)
Consultant - Refinery Expansion
„ MBA from IIPM, Gurgaon and B.Tech
(Chemical) from IIT Kanpur
„ Over 25 years of experience and has joined us
from Reliance Industries where he was heading
Economics Planning & Scheduling for 3 years
„ Chief Operator for UOP at NNPC Nigeria and
has worked with IOC, Barauni Refinery
„ PG Diploma MBA from I.I.Sc, Bangalore and
B.Tech (Chemical) from HBTI, Kanpur
„ 30 years experience and has previously
worked with Reliance Industries as a Sr. VP
leading the process engineering for 6 years
„ Worked earlier with Engineers India Ltd., MW
Kellogg (Houston), BOC Gases
„ MBA from Northwestern University and B.S.
(Chemical) from Carnegie Mellon University
„ 38 years of rich experience, has retired as
Project Director - Engineering from UOP and has
overseen detailed engineering
Strong and Experienced Project Implementation Team
Thank You