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After a wait of almost one year, Mr Sudhir Vasudeva has finally been appointed as the Chairman and Managing Director of ONGC.
Mr Vasudeva's name was cleared by the Appointments Committee of Cabinet (ACC) here on Monday. After emerging as the front runner for the top post at ONGC in October last year, Mr Vasudeva, who holds the post of Director (Offshore), found his candidature under scrutiny.
In the meantime, the Government entrusted the additional charge of CMD to Mr A.K. Hazarika, Director (Onshore), ONGC, from February 1.
Mr Vasudeva emerged as the front runner for the post of the public sector oil exploration and major giant, after Mr R.S. Sharma retired at the age of 60 on January 31, 2011.
Last October, the Public Enterprises Selection Board (PESB) interviewed candidates and shortlisted two names. PESB recommendations were sent to nodal Ministry, in this case Ministry for Petroleum & Natural Gas. The Ministry then processed it further and forward it to the ACC for formal approval.
On receipt of complaints on his candidature, the Central Vigilance Commission was asked to examine them.
Mr Vasudeva took charge as Director (Offshore), ONGC, on February 1, 2009. Prior to this he was steering the offshore joint venture segment of ONGC's operations.
He is known for his team management capabilities. As Director (Offshore), his prime agenda was to improve recovery from the aging Mumbai High field and to bring the Krishna Godavari offshore field on the East Coast to production in the shortest time possible.
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