Essar Energy Limited
Essar Energy Limited (formerly known as Essar Energy Plc )
Essar Energy is a private limited company incorporated in the United Kingdom (UK) under the Companies Act on 18th December 2009 as a wholly-owned subsidiary of Essar Global Fund Limited. It is headquartered in and managed from Port Louis, Mauritius.
Essar Energy is the holdco for the Energy business and operates Oil and Gas and Power assets which have lifespans of several decades. EEL holds equity shares in Essar Oil & Gas Limited (“EOGL”) and Essar Power Holding Limited (“EPHL”), companies incorporated in Mauritius.
Essar Energy is focused on delivering profits and growth by meeting energy needs through its Oil and Gas and Power businesses.
In the Oil and Gas sector, a high impact portfolio of onshore and offshore oil and gas assets with an acreage of 13000 sq. kms. spread across India, Vietnam, Nigeria aggregating reserves and resources of around 1.68 billion barrels of oil equivalent. Has a leadership position of CBM production in India.
Essar Energy’s strategy remains clear; to create a world‑class, low‑cost integrated energy business, positioned to capitalise on India’s rapidly growing energy demand across its Oil & Gas and Power businesses.
Principal risks and uncertainties
Our approach to Risk Management
The board of Essar Energy Ltd. has adopted a policy framework within which the board of directors and senior management of each of its business divisions are delegated authority and responsibility for their own risk management and determination of appetite to undertake certain activities subject to risk and uncertainties.
The business divisions are responsible for mitigating and monitoring relevant risks and implementing effective processes to do so.
How we sustain profits and deliver growth?
Essar Energy seeks to reduce capital expenditure by focusing only on essential maintenance, asset optimisation and committed project expenditure. In addition, the Company will seek to exit non‑core or underperforming assets
Essar Energy continues to take a positive view of energy market dynamics in India and the rest of the world, despite challenging macro-economic issues which have resulted in lower growth rates globally. Facing such challenges, the Company’s focus on helping to meet the rapidly growing energy demand remains unchanged.
Essar Energy believes that there will be continues investment opportunities in the longer term. For now though, the focus will remain on improving the operational and financial performance of the Company’s existing core assets.