Page 155 - CW E-Magazine (18-3-2025)

Hydrocarbons

FUTURE PLANS
Oilmax Energy commits Rs 450-crore investment

in Assam’s energy and mineral sectors

Oilmax Energy, a private oil as feedstock. Oilmax will
and gas company, has announced a bring cutting-edge technology
Rs. 450-crore investment in Assam. to process the raw material
The company participated in the into biogas, while AGCL
‘Advantage Assam Summit’ recently will source the feedstock and
where it committed to investing in utilise the produced biogas.
the state’s compressed biogas sector, This initiative aligns with
while also focussing on Tiphuk oil India’s focus on clean energy
and gas fi eld, and exploring opportuni- and circular economy solu-
ties in Assam’s mineral sector. tions, offering Assam a sus-
tainable model for biofuel
As part of this investment, Oilmax production.
Energy has signed three key Memoran-
dums of Understanding (MoUs), mark- mineral resources, specifi cally quartz The company’s investments are
ing a strategic expansion in Assam’s mining. With Assam emerging as a criti- projected to generate approximately
energy and mineral landscape. The fi rst cal hub for industrial minerals, Oilmax 300 jobs in their initial phase, with a
MoU, signed with Brahmaputra Crac- Energy aims to leverage its expertise to strong focus on hiring local Assamese
kers & Polymers Ltd. (BCPL), focuses unlock the potential of these resources. talent. The Tiphuk oil and gas project
on investment in the Tiphuk oil and gas is expected to commence within the
fi eld, where BCPL will offtake the gas In its third MoU, Oilmax Energy has next 6-12 months, while the quartz
produced at the site. The second MoU, partnered with Assam Gas Company mining and CBG plant developments
signed with the Government of Assam, Ltd. (AGCL) to develop a compressed will be implemented over the next
paves the way for the development of biogas (CBG) plant using Napier grass 2-3 years.

LEGAL BATTLE
RIL faces $2.81-bn demand from oil ministry

in KG gas migration dispute case

Reliance Industries Ltd. (RIL) has has raised a demand of $2.81-bn on
said that the Ministry of Petroleum & the PSC Contractors namely Reliance
Natural Gas (MoPNG) had raised a Industries, BP Exploration (Alpha) and
demand of $2.81-bn in the long- Niko (Neco). The letter of demand was
running Krishna Godavari (KG) basis received by the Company at 11:30 a.m.
gas migration dispute case. on March 3, 2025,” it said in a fi ling
on BSE.
RIL said it had won an arbitral award appeal challenging the arbitral award.
issued by an eminent international arbi- GOI had fi led an appeal before the Reliance said it is legally advised
tration panel on July 24, 2018, against Division Bench of the Delhi High Court. that the Division Bench judgment and
the Government of India’s (GOI’s) The Division Bench has reversed the this provisional demand are “unsustain-
claim on the KG-D6 Consortium for judgment of the single judge, it added. able”. “The company is taking steps
around $1.55-bn on account of alleged to challenge the judgment of Division
gas migration from ONGC’s blocks. A “Consequent upon the above-men- Bench of Delhi High Court. The com-
single judge of the Delhi High Court, tioned Division Bench judgment, the pany does not expect any liability on
on May 9, 2023, dismissed the GOI’s Ministry of Petroleum and Natural Gas this account,” it added.

Chemical Weekly March 18, 2025 155

Contents Index to Advertisers Index to Products Advertised