Quippo Oil & Gas wins ₹280.1 crore contract from Oil India Ltd.

Hazoor Multi Projects Ltd. (HMPL) subsidiary Quippo Oil & Gas Infrastructure Ltd. has secured a ₹280.1 crore contract from Oil India Ltd. to supply a drilling on charter hire. The order marks HMPL's shift to an integrated platform capable of executing capital-intensive deals. Quippo has a fleet of 14 advanced drilling rigs and a team of over 400 oilfield professionals. HMPL aims to emerge as a strategic partner in India's energy and industrial growth story.

Hazoor Multi Projects Ltd. (HMPL), a leading infrastructure and engineering enterprise, has seen a significant milestone with its subsidiary, Quippo Oil & Gas Infrastructure Ltd., securing a ₹280.1 crore contract from Oil India Ltd. for the supply of a drilling rig on charter hire [1]. This order marks a strategic shift for HMPL, transforming it from a pure-play EPC operator to an integrated platform capable of executing capital-intensive deals.

The acquisition of Quippo by HMPL was a deliberate move aligned with national energy priorities, aimed at unlocking value in sectors characterized by recurring revenues, limited competition, and policy-driven tailwinds [1]. Quippo's 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 execution of over 125 wells across India [2].

The contract with Oil India Ltd. reinforces Quippo's credentials in the upstream oil and gas services domain and positions HMPL to play a long-term role in India's energy infrastructure development. This move comes at a time when the Indian upstream oil and gas sector is poised for significant expansion, supported by the government's commitment to reduce energy import dependence by 10% and attract over $100 billion in energy infrastructure investment by 2030 [2]. Policy enablers such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) are designed to boost domestic exploration and enhance oil recovery, creating sustained demand for high-performance service providers like Quippo.

HMPL's evolution reflects a broader ambition to emerge as a strategic partner in India's energy and industrial growth story. The company aims to create sustainable, long-term stakeholder value through disciplined execution, intelligent diversification, and consistent value creation across all its verticals. HMPL is a BSE-listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works, and shipyard services, now expanding into the oil and gas sector [2].

References:
[1] https://www.thehindu.com/business/hmpl-arm-quippo-oil-gas-bags-oil-india-order/article69920623.ece
[2] https://www.business-standard.com/content/press-releases-ani/hmpl-s-subsidiary-quippo-oil-gas-infrastructure-secures-rs-280-1-cr-oil-india-limited-s-order-125081101610_1.html