Oil and Natural Gas Corp. Ltd (ONGC) has appointed AK Srinivasan as the new director (finance) of the company. He was elevated to the post after his presidential appointment to the ONGC Board. He has an experience of over 31 years in upstream oil and gas finance.

Srinivasan, 57, was the executive director—finance of the company and is an alumnus of IIM Bangalore. He replaces AK Banerjee who retired in April.

He started his professional career with ONGC as a graduate trainee in the year 1983 and has worked in the fields of capital markets, project financing and contracts, corporate budgeting and planning, corporate accounting, corporate taxation and dispute resolution, said a note issued by the company on Wednesday. Srinivasan was instrumental in over $700-million international fund raising during the ONGC Videsh’s bond issue last year.