ONGC Appoints Vivek Chandrakant Tongaonkar as Director (Finance)
He led the Investor Relations Cell at ONGC, and is an industry veteran with over 37 years of professional experience in diverse activities across the energy value chain.
July 03, 2024. By News Bureau
Tongaonkar brings a wealth of experience and a proven track record in financial and managerial leadership, making him a valuable addition to India’s Energy Maharatna. In his previous role, he served as Director (Finance) and CFO at Mangalore Refinery and Petrochemicals Limited (MRPL) from May 2023 till June 2024.
Tongaonkar contributed to the design, engineering, fabrication, installation, pre-commissioning, and commissioning of offshore facilities, including well platforms, process platforms, and pipelines. He gained rich technical experience in offshore facilities.
Notably, he also led the Investor Relations Cell at ONGC, further demonstrating his versatility and leadership capabilities. He was part of the select team of officers who formulated ONGC’s Perspective Plan 2030 and also served as the Executive Director – Chief Corporate Finance at ONGC, overseeing critical financial portfolios and guiding the organization through transformative initiatives.
He was instrumental in consolidating the personal claims and accounts payable with system improvements in respect of three Assets resulting optimisation of manpower. Among his strategic accomplishments were maintaining the continuity of finance operations during the COVID-19 epidemic and centralizing FX procurement, which led to significant cost reductions.
Tongaonkar, is also the Chairman of Mangalore Special Economic Zone Limited (MSEZL). The net worth of MSEZL turned positive in FY23-24 and it prepaid high interest-bearing term loan to the tune of INR 65 Crore, a reduction of around 15 percent of total outstanding loan. Under his leadership, MSEZL introduced various prudent financial management practices.
please contact: contact@energetica-india.net.
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