In October 2009, the Maldives Cabinet met underwater to highlight the threat from global warming to low-lying countries in the Indian Ocean. Perhaps enthused by the novelty, India’s largest oil producer ONGC on Saturday chose to make a splash by holding its board meeting on a Mumbai High North production platform off the Mumbai coast to indicate the importance of offshore projects in its growth plan.
This is the first time that the board of any oil producing company has held its meeting at sea. The meeting took place on the MHN (Mumbai High North) platform, the largest offshore oil processing set up on Mumbai High, which started production in 1974 and remains the country’s largest oilfield till this day.
Company executives credited the idea of holding the 299th board meeting on an offshore platform to chairman Shashi Shanker, who took over this month. “There couldn’t have been a better way to make non-executive directors — who hold majority on the board — aware of the uniqueness of offshore operations, including its technological or geological challenges,” a senior ONGC executive said. Read More…
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