Hindustan Oil Exploration Company Limited accepted the retirement of Independent Director Mr. Pronip Kumar Borthakur effective from the end of the day on June 14, 2026. This transition follows the completion of his tenure, having served two consecutive terms of five years each in the capacity of Non-Executive Independent Director. The Board of Directors acknowledged his contributions and recorded its appreciation for his service during this period.

In conjunction with this departure, the Board has reconstituted its sub-committees to ensure compliance with the Companies Act, 2013 and SEBI Listing Regulations. The reorganization, effective June 14, 2026, impacts the composition of the Audit, Nomination & Remuneration, Corporate Social Responsibility, and Risk Management committees.

The Audit Committee now comprises Mr. Suresh Kumar Jain as Chairperson, along with members Mr. Jagadip Narayan Singh and Mr. Rohit Rajgopal Dhoot. The Nomination & Remuneration Committee is chaired by Ms. Preeti Grover, with Mr. Suresh Kumar Jain and Mr. Ashok Kumar Goel serving as members.

The Corporate Social Responsibility Committee includes Ms. Preeti Grover as Chairperson, Mr. Ashok Kumar Goel, and Managing Director & CEO Mr. Baroruchi Mishra. The Risk Management Committee is chaired by Mr. Jagadip Narayan Singh and includes members Mr. Ashok Kumar Goel, Mr. Baroruchi Mishra, Mr. Krishnan Raghavan, and Mr. G. Janakiraman.

Committee Composition Details

Hindustan Oil Exploration Company Limited has halted gas sales from its B-80 field to undertake asset integrity related maintenance, ensuring the continued safe and efficient operation of its facilities. The company confirmed that while gas sales have stopped, oil sales from the field continue at lower rates. This preventive measure is being carried out in line with applicable safety standards and operational best practices for offshore oil and gas installations.

The company disclosed that the stoppage and reduction in production is a standard process for offshore assets. In a regulatory filing submitted to the exchanges, Hindustan Oil Exploration Company stated that the financial impact of the maintenance activity is not material. The specific location affected by the operational change is the Western offshore - Block MB/OSDSF/B80/2016 (B-80).

The management indicated that the measures are corrective and preventive in nature. Hindustan Oil Exploration Company has committed to notifying the stock exchanges immediately upon the resumption of gas sales from the B-80 field. The information was submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operational Impact Details