Hazoor Multi Projects Ltd. (HMPL), one of India’s fastest-growing infrastructure and engineering enterprises, a recently acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., has been awarded a contract valued at Rs 280.1 crore by Oil India Limited (OIL), a Maharatna Public Sector Undertaking (PSU).
The contract involves the charter hire of one drilling rig, reinforcing Quippo’s credentials in the upstream oil and gas services domain and marking HMPL’s bold entry into India’s upstream energy services sector—positioning the company to play a long-term role in the country’s energy infrastructure development.
This OIL order signals HMPL’s strategic shift from a pure-play EPC operator to an integrated platform capable of executing in capital-intensive, high-barrier industries. The acquisition of Quippo was a deliberate, fundamentals-driven step aligned with national energy priorities, aimed at unlocking value in sectors characterized by recurring revenues, limited competition, and policy-driven tailwinds.
Quippo, a pioneer in India’s onshore oilfield services landscape, significantly strengthens HMPL’s operating base with deep technical and executional capabilities. Its asset base includes a fleet of 14 advanced drilling rigs, ranging from 650 HP to 3000 HP, equipped with top-drive systems capable of deep and complex drilling operations. Supported by a team of over 400 oilfield professionals with global experience and a strong safety-first culture, Quippo has a proven track record, including the successful execution of over 125 wells across India, notably delivering the deepest onshore well in Indian history—in Assam—completed ahead of schedule and under budget. Its diversified service portfolio spans directional drilling, work-over operations, cementing, seismic surveys, and integrated field development, making it one of the few Indian players capable of offering end-to-end upstream solutions.
