Oil India Limited (OIL), India’s youngest Maharatna CPSE, has appointed Saloma Yomdo as its new director of exploration & development.

What Happened: Yomdo, an alumnus of the Indian Institute of Technology (Indian School of Mines) with a degree in Petroleum Engineering, assumed the role of director (E&D) at Oil India Limited on July 19, 2024. Yomdo, who has been with Oil India since 1994, previously served as executive director (E&D) at OIL, managing E&D operations across India and abroad.

Yomdo’s contributions have been significant in the implementation of various exploration, development, and reservoir management practices in the company’s oil and gas fields. His initiatives have been crucial in maintaining production levels and prolonging the lifespan of the oil and gas fields.

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In addition to his work at OIL, Yomdo has presented and published technical papers at international and national forums. He is also an active member of the Society of Petroleum Engineers (SPE) and the Association of Petroleum Geologists (APG).

Earlier in the day, ICICI Securities released an optimistic outlook for the sector, expecting oil and LNG demand to remain robust in the near term. The brokerage firm gave a “buy” rating to OIL India, ONGC and others predicting a favourable operational and macroeconomic environment for the sector over the next 12-18 months.

This appointment also follows the recent appointment of Rupam Barua as the new CFO of Oil India Limited. Barua, a veteran in the oil and gas industry, assumed his role on July 1, 2024.

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