GSPC poaching disgruntled oil and gas PSU officials
Even as officials of the central oil & gas PSUs are demanding higher wages, state PSU Gujarat State Petroleum Corporation (GSPC) is cashing on the dissatisfaction of the employees of these PSUs.
By Abhishek Shanker, TNN |
AHMEDABAD: Even as officials of the central oil & gas PSUs are demanding higher wages, state PSU Gujarat State Petroleum Corporation (GSPC) is cashing on the dissatisfaction of the employees of these PSUs.
Of late, GSPC has been actively poaching senior engineers, with over 15 of years experience, from ONGC. The company has also been poaching from Indraprastha Gas, Gail and Gujarat Gas, a British Gas subsidiary, for its city gas-distribution and gas-grid projects.
According to the latest figures, at least four top ONGC officials are set to join GSPC in October or November for the company’s offshore drilling project in the Krishna-Godavari basin.
GSPC has struck gas with estimated reserves of 20 tcf. All these officials, who had been holding position of chief engineer or superintending engineer at ONGC, will be paid three times of their current salary at ONGC. The company has hired services of DP Bansal, who has 40 years of experience and has held posts such as member (operation) at ONGC. He is likely to head offshore construction business.
According to sources, they will have salary and perks in excess of Rs 2.5 lakh a month, much more than the salary and perks of the managing director of the company itself. “We have adopted a system of hiring people on contract of about two years, especially at key positions.
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This is how we are able to pay them according to the prevailing market rates,” GSPC sources told ET. In the last two months, the company was able to rope in the services PB Sharma as CEO of GSPS Gujarat Gas, GSPC subsidiary in the city gas-distribution business. Also, B Nath has been roped in as general manager (technical). He was earlier with Indraprastha Gas. “Both of them have been hired on contract for two years,” sources said. The manpower of GSPC has gone up from 85 a year ago to over 125 at present. Recently, the company appointed two new GMs. The company promoted MY Farooqui and Jayesh Dave, who were promoted as Gms from September 1, ’06.
Earlier they held the post of deputy GM, projects and finance, respectively. However, there have been losses to the company as well. According to sources, Suresh Kumar, who headed the drilling division and was instrumental in KG basin drilling success, is set to leave GSPC after the contract of two years expires in October this year. Sources said that he was likely to join Gaffney, Cline & Associates Pte Ltd at their Singapore office.
Pull Factor
• Four top ONGC officials set to join GSPC in Oct or Nov
• These officials will be paid 3 times of their salary at ONGC
• GSPC manpower has gone up from 85 a year ago to over 125
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• Co has also lost few officials to competitors
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