Former CMD, GAIL, BC Tripathi joins Essar Exploration & Production as Non-Executive Chairman
he is also appointed as Board Member, Essar Oil UK
In a move to drive the strategy and growth of its energy investments, Essar Capital (ECL), the investment manager of Essar Global Fund (EGFL), has appointed BC Tripathi as the Non-Executive Chairman of Essar Exploration and Production Mauritius (EEPLM) and Board Member of Essar Oil UK (EOUKL).
EEPLM and EOUKL are key energy assets in ECL’s investment portfolio, together accounting for a substantial part of EGFL’s energy exposure. Tripathi’s induction signals EGFL’s renewed interest in the energy sector. He will drive the investment strategy and play a key role in providing strategic direction to EGFL.
Tripathi, who was the Chairman and Managing Director of GAIL (India) for over a decade, is one of the foremost energy strategists in the country. He is credited with transforming GAIL into a multi-asset multinational portfolio company.
“A person of Tripathi’s calibre is an invaluable addition to our leadership team. His exemplary track record in India’s energy sector will help EGFL grow and add significant value to our energy investments globally,” said Prashant Ruia, Director-Essar Capital.
“EGFL is among the only Indian funds whose investments straddle the entire hydrocarbon value chain, comprising upstream exploration and production, midstream refining and downstream retail globally. I look forward to contributing to the future direction of India’s oil and gas economy, in which Essar continues to be a key player,” said Tripathi on his appointment.