Mr. D K Sarraf

He has experience of three-and-a-half decades in the oil and gas industry, having started his oil and gas career in Oil India Limited and worked there until 1991 where he inculcated the experience in various facets of E&P at oil field level. Thereafter he joined ONGC and handled various key assignments at corporate offices. These included, converting ONGC from a statutory commission into a commercial corporation, its financial restructuring and valuation.
During the years 1997-2000, Shri Sarraf worked in Oil Coordination Committee of the Government of India where he got the industry-wide experience on Indian oil and gas sector. He played a major role in drafting the map for deregulating Indian oil and gas sector.
Shri Sarraf worked in ONGC Videsh Limited as Director (Finance) during February 2005 to December 2007. During this period, Mr Sarraf played key roles in negotiation and conclusion of significant acquisition transactions in Syria, Brazil, Colombia, Venezuela, Cuba, Egypt and Myanmar. ONGC Videsh experienced significant increase in its activities, production, revenue and profits during this period.
During December 2007 to August 2011, he worked as Director Finance of ONGC and its Group CFO. He introduced robust governance systems in ONGC and led several systematic improvements. In recognition of his achievements, he was given the Best CFO Award in Indian Oil & Gas sector by CNBC in 2009 and 2011.
Shri Sarraf assumed the charge of Managing Director and CEO of ONGC Videsh Limited in September 2011. As MD & CEO, ONGC Videsh Limited, he institutionalized systems and processes to ensure attainment of the committed targets. He introduced the concept of ‘zero-based risk review’ mechanism for risk assessment in major acquisitions and mitigation of the risks. He led company’s major acquisitions, like Block BC-10 Brazil, NEMED Block Egypt, AFPC Project Syria, MECL Project Columbia, Rovuma Area I Block in Mozambique offshore etc.; and guided the negotiating team for other acquisitions, resulting in substantial savings. He was awarded the CEPM-PMA fellowship on December 2, 2013 by the Project Management Associates – India (PMA – India).
During March 2014 to September 2017, Shri Sarraf was the Chairman and Managing Director of ONGC and Chairman of its Group companies – ONGC Videsh Ltd; Mangalore Refinery and Petrochemicals Ltd; ONGC Petro-additions Ltd; ONGC Mangalore Petrochemicals Ltd; Mangalore SEZ Ltd; ONGC Tripura Power Company Ltd. and a director on the Board of Petronet LNG Ltd. He was also the President, Global Compact Network India and Chairman, Petrotech Society and Federation of Indian Petroleum Industry.
He is a member of the Governing body of CSIR – Council of Scientific and Industrial Research.
He led the ONGC in one of the most difficult periods of low oil and gas prices, did not let the fresh investments in the business slow down, led formulation of several mega projects and their implementation, revived declining production trend, led increase in organization-wide efficiency, kept the morale of the employees high even in otherwise difficult environment, gave emphasis on encouraging start-ups, research and development and industry-academia collaboration, etc.
Shri Sarraf was conferred Honorary Doctor of Philosophy (DPhil) Degree by the Amity University in 2017.
Shri Sarraf joined PNGRB as the Chairperson on 4th December, 2017.