Hazoor Multi Projects Limited (HMPL) has announced that its recently acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., has secured a contract worth Rs 280.1 crore from Oil India Limited, a Maharatna public sector undertaking. The four-year contract involves the charter hire of one drilling rig, reinforcing Quippo’s position in the upstream oil and gas services sector and marking HMPL’s entry into this segment.
The company said the acquisition of Quippo was a strategic move aimed at diversifying beyond its core EPC operations into high-barrier, capital-intensive industries with recurring revenues. Quippo’s fleet comprises 14 advanced drilling rigs, along with a team of over 400 oilfield professionals. It has executed more than 125 wells across India, including the deepest onshore well in Assam, completed ahead of schedule and under budget.
This deal positions HMPL to pursue large-scale, integrated energy service contracts in India’s oil and gas industry. With the government’s focus on reducing energy import dependence and attracting $100 billion in energy infrastructure investment by 2030, the company expects steady growth from its expanded operations.
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