Oilmax Energy has unveiled plans to invest Rs 450 crore in Assam, strengthening its presence in oil and gas production, mineral resource development, and compressed biogas (CBG) initiatives. The investment aligns with the broader goal of enhancing energy security while fostering sustainable energy solutions in the region.
As part of this expansion, the company has formalized three key agreements. One of these agreements, signed with Brahmaputra Crackers & Polymers (BCPL), focuses on the Tiphuk oil and gas field, with BCPL set to offtake the gas produced. Another agreement, secured with the Government of Assam, will facilitate quartz mining operations to bolster the state’s mineral sector.
A third agreement with Assam Gas Company (AGCL) outlines plans for a CBG plant that will utilize Napier grass as feedstock. Oilmax will deploy advanced technology to drive biogas production, while AGCL will handle raw material sourcing and gas utilization. This initiative aligns with India’s growing emphasis on clean energy and circular economy solutions.
The company anticipates generating 300 job opportunities in the initial phase of its projects. Operations at the Tiphuk oil and gas field are expected to commence within six to twelve months, while the quartz mining and CBG plant developments are projected to materialize over the next two to three years.