Oilmax Energy announces ₹450 crore investment in Assam at Advantage Assam 2.0 Summit

Oilmax Energy, a leading private integrated oil and gas company, has announced a ₹450 crore investment in Assam, reinforcing its long-term commitment to the state's energy and industrial sectors. 

Oilmax Group was honored to participate in the Advantage Assam Summit, in the presence of Prime Minister Narendra Modi and Chief Minister of Assam, Himanta Biswa Sarma, where the brand committed to investing in the state's compressed biogas sector, while also focussing on Tiphuk oil and gas field, and exploring opportunities in Assam’s mineral sector.

As part of this investment, Oilmax Energy has signed three key Memorandums of Understanding (MoUs), marking a strategic expansion in Assam’s energy and mineral landscape. 

The first MoU, signed with Brahmaputra Crackers & Polymers Limited (BCPL), focuses on investment in the Tiphuk oil and gas field, where BCPL will offtake the gas produced at the site. This initiative is a significant step in boosting domestic oil and gas production while strengthening India’s energy security.

The second MoU, signed with the Government of Assam, paves the way for the development of mineral resources, specifically quartz mining. With Assam emerging as a critical hub for industrial minerals, Oilmax Energy aims to leverage its expertise to unlock the potential of these resources, further supporting India’s push toward self-reliance in strategic sectors.

In its third MoU, Oilmax Energy has partnered with Assam Gas Co. Ltd (AGCL) to develop a compressed biogas (CBG) plant using Napier grass as feedstock. Oilmax will bring cutting-edge technology to process the raw material into biogas, while AGCL will source the feedstock and utilize the produced biogas. This initiative aligns with India’s focus on clean energy and circular economy solutions, offering Assam a sustainable model for biofuel production.

The company’s investments are projected to generate approximately 300 jobs in their initial phase, with a strong focus on hiring local Assamese talent. Oilmax Energy remains committed to fostering economic growth in the region, with the Tiphuk oil and gas project expected to commence within the next 6-12 months, while the quartz mining and CBG plant developments will be implemented over the next 2-3 years.

Dr. Kapil Garg, founder and MD of Oilmax Energy, highlighted the company’s dedication to Assam’s industrial growth, stating: " Oilmax has always been committed to harnessing Assam’s potential in the energy and mineral sectors. The current investments and MoUs underscore the company’s strong interest in exploring the state’s abundant resources.

"We are keen to expand into other critical industries that align with the state’s and the nation’s development goals and contribute to the country’s growing GDP. Our investments in energy production, minerals, and clean energy reflect our long-term vision of creating sustainable growth opportunities. Assam is at the forefront of India’s industrial expansion, and we are committed to playing a key role in its transformation."

Oilmax Energy’s participation and investment announcements at the summit reaffirm its vision of driving economic growth, enhancing domestic energy production, and contributing to a more sustainable future for Assam and India.