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Informist, Tuesday, Sept. 29, 2026

 

--NCLT Mumbai approves Oilmax Energy's merger with Asian Energy Services 

 

By Surya Tripathi

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal Tuesday approved Oilmax Energy Pvt. Ltd.'s merger with Asian Energy Services Ltd. The appointed date for the scheme of amalgamation is Sept. 6, 2025. According to the scheme, 117 fully paid-up equity shares of INR 10 each of Asian Energy shall be issued and allotted for every 10 fully paid- up equity shares of INR 10 each of Oilmax Energy.

 

 

Asian Energy is the holding company of Oilmax Energy. Both the companies are engaged in the business related to energy and minerals sector specially oil and gas. The consolidation of both the entities will have a diversified portfolio of assets and businesses in the merged entity, which would not only be engaged in oil and gas blocks with proven resources and minerals resources but also provide end-to-end strategic solutions to the industry, said the scheme of amalgamation.

 

The amalgamation will synergise the complementary strengths of both the companies, said the merger documents. The consolidated entity would be able to create meaningful value for all stakeholders involved including shareholders of both the companies, employees, customers as combined strengths and resources can be put to the best advantage, it said. Further, the combined entity would benefit from Asian Energy's expertise and proven track record of operations and maintenance, facility construction and related services and Oilmax Energy's expertise in reservoir management, integrated field development, geological and geophysical strengths, it said.

 

The merger will significantly strengthen the position of the combined entity in the industry in terms of asset base, geographical reach, technical capabilities and financial capabilities, said the scheme of amalgamation. The merger will enable creation of a leading energy and mineral company in India with a global footprint, it said. The merger will provide Asian Energy access to a diversified portfolio of proven oil and gas and minerals resources of Oilmax Energy across different basins and geographies, it said. Asian Energy will benefit from long-term revenue and cashflow visibility of Oilmax Energy assets, it added.

 

Oilmax Energy is in the business of exploration, development, and production of oil and gas assets, and has created a diversified portfolio of onshore oil and gas assets with varied participating interest in five oil and gas blocks, including one coal bed methane block. Oilmax Energy has expanded its business in the mineral sector and has acquired quartzite blocks in India. The company also has interest in the business of advanced agriculture through its subsidiary. 

 

Asian Energy is an oil and gas industry service provider, offering end-to-end services which extend across the entire upstream value chain, including geophysical data acquisition, production facility, engineering, procurement and construction. Asian Energy uses the build-own-operate-transfer model, integrated oil and gas field development and enhanced oil recovery facility operation and maintenance, material handling exploration, marine diesel oil for providing its services. Asian Energy's shares are listed on both the BSE and the National Stock Exchange of India Ltd.

 

At 1134 IST, the shares of Asian Energy Services Ltd. were up 0.9% at INR 478.45 on the National Stock Exchange.  End 

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

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