Hazoor Multi Projects Ltd. (HMPL), an infrastructure and engineering enterprise, said its recently-acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., has bagged a contract of ₹280.1 crore from Oil India Ltd. to supply a drilling on charter hire.
The order win signals HMPL’s strategic shift from a pure-play EPC operator to an integrated platform capable of executing capital-intensive deals, the company said.
“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,” the company said.
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 track record, including the execution of over 125 wells across India.
“HMPL’s evolution reflects a broader ambition-not merely to be a contractor of road infrastructure, but to emerge as a strategic partner in India’s energy and industrial growth story, with a clear focus on creating sustainable, long-term stakeholder value through disciplined execution, intelligent diversification, and consistent value creation across all its verticals,” the company added.
Published – August 11, 2025 08:03 pm IST