Chief Executive Officer — Upstream Portfolio

The mandate

A listed Indian energy group has completed a board-led review of its upstream interests. Mature operated fields, non-operated positions, contingent developments and exploration options compete for capital, while abandonment and integrity obligations are becoming more visible. Incremental adjustments have not produced a portfolio choice. The new CEO must establish which barrels, capabilities and partnerships deserve investment and how the remainder will be harvested, restructured or exited responsibly.

The perimeter covers approximately ₹25,900 crore in operated assets and portfolio interests and 500 employees and material partners. Accountability includes upstream P&L, reserves and resources, development, production, subsurface, wells, operations, safety, joint ventures, commercial strategy, capital and people. Technical authorities retain professional independence and the group board approves reserved investments. The CEO owns the integrated economic, operating and organisational result.

Capital discipline begins with a credible base. Production, decline, uptime, lifting cost, integrity, workovers, reserves, price realisation, decommissioning and partner cash calls must reconcile. The CEO will distinguish underperformance that can be corrected from geology or contract economics that cannot be managed away.

The role also carries stewardship. Near-term cash cannot be improved by deferring integrity, environmental or abandonment work beyond a defensible plan. Every portfolio decision must retain an accountable route for obligations.

Why this seat is open

This is a planned replacement with a four-to-six-month handover. The incumbent continues normal authority and will transfer regulator, partner, asset and leadership context. The board is conducting discreet external assessment so communication can be sequenced without distracting operations. No undisclosed safety or reserve issue has prompted the succession.

What you will own

• Establish one reconciled portfolio and capital baseline.
• Decide invest, optimise, partner, harvest, suspend and exit pathways.
• Restore mature-field reliability and intervention economics.
• Govern development concepts and exploration through explicit gates.
• Protect integrity, abandonment and joint-venture obligations.
• Build asset leaders and technical succession.

The mature-field agenda will focus on value per constrained resource. Reliability, water handling, energy, well performance, maintenance, logistics and operating discipline will identify recoverable cash and production. Interventions will use expected value, technical confidence and facility constraint. Activity volume will not be mistaken for reservoir or economic progress.

Developments will pass through concept and capital gates that preserve alternatives. Subsurface range, facilities concept, evacuation, approvals, contracting, schedule and price exposure will be integrated. The CEO will require a credible downside and a funded route to first production before requesting material commitment. A sunk appraisal programme does not create an entitlement to sanction.

Exploration will have portfolio rules for basin position, data acquisition, chance of success, follow-on capital and exit. The board may retain options with strategic learning value, but these must compete transparently with producing-asset and obligation capital. Dry-hole tolerance and post-well decisions will be agreed before drilling.

Joint ventures require active governance. The CEO will ensure non-operated positions have technical challenge, audit rights, partner influence and independent economic views. Operated assets will provide partners timely evidence and decision quality. Relationship management cannot conceal disagreements on programme, reserves or cost.

Abandonment and restoration will be treated as an operating portfolio. Scope, schedule, technology, contracting, security and regulatory engagement will be costed under scenarios. Divestment structures must consider residual liability and counterparty capability. The group will not create apparent value by transferring obligations to an owner unable to perform them.

The first 12 months

Within 90 days, the CEO will re-underwrite the ten largest capital and obligation positions, visit priority assets and assess leadership. The board will receive immediate portfolio, integrity and capital recommendations supported by a reconciled base.

By month eight, two mature-field recovery plans should show validated results, three development or exploration options should reach explicit advance, reshape or stop decisions, and material joint-venture disagreements should have board-approved paths. The abandonment portfolio will carry updated scope and funding.

At year-end, production and controllable cost should remain within 5% of approved plan, unplanned deferment improve 15% across targeted assets and 90% of capital stay behind approved gates. No material integrity or abandonment obligation may lack funded ownership, while ready cover exists for 70% of pivotal operating and technical seats.

What the board will measure

• Capital directed to the highest-quality risk-adjusted upstream choices.
• Reliable base production and mature-field cash discipline.
• Development and exploration gates that stop weak options early.
• Integrity and abandonment protected through portfolio change.
• Strong asset leadership and technical succession.

The person

You are an upstream CEO, business president or asset-portfolio executive with more than 28 years of experience. You have carried at least ₹15,000 crore in P&L, book or accountable portfolio and led no fewer than 450 people. Your record includes operated and non-operated assets, development choices and mature-field stewardship.

The board will test a development you stopped, a field recovery sustained beyond one quarter and an exit where obligations remained controlled. You must be credible with geoscientists, engineers, regulators, partners and investors. Pure corporate strategy or exploration leadership without full P&L accountability will not qualify.

This hybrid Mumbai appointment requires frequent travel to assets, partners, authorities and board forums.

Compensation and terms

Fixed compensation is ₹5.0–7.5 crore plus performance variable and LTI. Measures include production, cash, capital gates, integrity, obligations and succession. Long-term awards follow standard vesting and the final portfolio perimeter.

Confidentiality

The group, fields, partners, reserves, capital choices and obligations are confidential. Further detail follows qualification and an undertaking. Rounded scale and composite asset context prevent identification.