Interview: Ashish Agarwal, CEO & MD, Seros Energy

Interview with Ashish Agarwal, CEO & MD, Seros Energy

Mr. Ashish Agarwal is a leader with 20 years of experience in leading business across various sectors. He has been involved with strategic oversight of the group’s portfolio interest in energy, metals, construction and logistics.

As the CEO Mr. Agarwal sets and evolves the strategic directions for the company and its portfolio of offerings, while nurturing a strong leadership team to drive its execution.

Please tell us a little about your entrepreneurial journey?

Ashish Agarwal: My journey as an entrepreneur started when I was a teenager. I had a passion for creating things and solving problems.

I learned a lot from my experiences, such as how to market my products, manage my finances, and deal with customers.

I also realized freedom to pursue one’s own ideas is important. This motivated me to pursue more opportunities and challenges in the entrepreneurial world.

The journey of an entrepreneur is not a linear one. It is full of challenges, risks, failures and successes. An entrepreneur I have realised that one must have resilience, perseverance, and adaptability to overcome obstacles.

For me an entrepreneur is someone who creates value for themselves and others by transforming ideas into reality. 

Can you tell us about the history of your company and how it got started?

Ashish Agarwal: We at Seros are very passionate to be able to contribute towards Nation building. Having a strong presence in the Maritime sector we were able to help reduce the burden on our road infrastructure by deploying one of the largest coastal fleets in India.

We have also been successful in incubating India’s first Green Logistics company and helping our various companies reduce their carbon footprint.

Seros has has been never afraid of seizing entrepreneurial opportunities & we saw an opportunity in the Oil & Gas space.

Energy independence has been on the top of Nations’ agendas and we at Seros are thrilled to be able to contribute in our own way. Today I am proud to say that Seros is one of India’s largest Rig fleet owners.

How does your company differentiate itself from competitors in the contract drilling space?

Ashish Agarwal: In a very short span Seros has covered tremendous ground in the drilling space. We are now one of India’s largest fleet owners.

What really sets us apart from our competitors is our ability to service the entire life cycle of the well. We provide highly specialised services such as Hyro Fracturing, Coiled Tubing, Cementing and Direction drilling. We are the only Indian company offering the entire bouquet of Well services along with Drilling.

How do you see technology impacting the future of the contract drilling industry?

Ashish Agarwal: Technology is playing a vital role in the future of the drilling industry. It can help improve efficiency, safety, and environmental performance of oil extraction and processing. Some examples of technology that are transforming the oil drilling industry are: –

Digitalization and automation: These technologies can enable real-time data collection and analysis, remote monitoring and control reducing human errors and risks.

Enhanced oil recovery (EOR): This technology can increase the amount of oil that can be extracted from existing reservoirs by injecting fluids, gases, or chemicals into the wells. It can also extend the life span of oil fields and reduce greenhouse gas emissions.

Renewable energy integration: This technology can help reduce the dependence on fossil fuels and lower the carbon footprint of the oil drilling industry.

It can also provide reliable and cost-effective power supply for remote locations and offshore platforms.

Some examples of renewable energy sources that can be integrated with oil drilling are solar, wind, and geothermal.

Can you discuss any challenges your company has faced and how it overcame them?

Ashish Agarwal: Starting any new business not a linear task, there are teething issues and naturally we faced many challenges.

The key challenge to my mind has really been managing the impact of market volatility. Especially more so when we have witnessed unprecedented geopolitical uncertainty and pandemic outbreak in the last 3 years. These external factors have had tremendous effect on supply and demand dynamics.

 These challenges require the business to be agile, resilient and adaptable. We have also needed to have a clear vision, a strong long term strategy and a committed workforce to thrive in this dynamic industry.

Our strong partnerships with our clients and aligning our interests and strategies have helped us thru these uncertain times.

Can you walk us through a recent successful project your company completed and what made it successful?

Ashish Agarwal: Hydraulic fracturing single-handedly revolutionized the oil and gas industry enabling Nations to start exporting Oil products.

For long hydraulic fracturing & Coiled tubing technologies have been dominated by international companies.

In November 2022 Seros became the first Indian service provider to complete a Hydraulic fracturing job in our country.

1st Frac Job pumped successfully– 7900 lbs. /ft. in an unconventional reservoir. I was an unprecedented achievement and the entire credit goes to our #TeamSeros. Their undying commitment and meticulous planning made it possible.

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