Dinesh K Sarraf: What will be his enduring legacy?
Jun 23: ONGC chairman Dinesh K Sarraf had a long enough run at the helm of ONGC to leave behind an enduring legacy when he remits office in September this year 8But what will the legacy be? 8Will he be known for going to court against the wishes of the government of India to protect the interest of the company when gas was diverted away from its reservoirs by wells drilled by RIL in the neighboring D-6 block? 8Or will he be judged for not showing the same spunk when he surrendered to a government diktat to take over GSPC's ailing Deendayal field, which, in all probability, was not in the company's interest? 8The jury is still out on Sarraf's problem solving skills: he has not acted quickly enough to get the Daman field into production after the contractor declared bankruptcy, which will mean that production will be delayed by a season or two because of initial inaction, nor has he shown alacrity yet in resolving the mess around the Sagar Samrat conversion to the best interest of ONGC. 8He could perhaps have moved faster to shore up production from ONGC's new and ageing fields while in tenure. Some of the fields which were meant to produce haven't done so yet 8The lost income, as a result, will mount to hundreds of crores of rupees. 8But Saraff and his team must be credited for putting together the $ 5 billion KG-DWN-98/2 investment even though implementation seems to be slowing down and there are early signs of delay. 8When he started off, Sarraf was known as a risk taker willing to stand up for what he believed was right, but somewhere down the line, he become risk averse. May be the system is to blame for the transition from one personna to the other. 8Clearly Saraff's legacy will not match up to the one left behind by the inimitable Subir Raha, though the two will measure up equally when it comes to uprightness, but his contribution will be a lot more than some of the others who were at the helm in ONGC before him. Click on Details for more.