Multi-Project Venture Claims Ownership of Quippo's Oil and Gas Asset structure
Hazoor Multi Projects Ltd. (HMPL) Expands into India's Upstream Oil and Gas Sector
Hazoor Multi Projects Ltd. (HMPL), a Mumbai-based diversified infrastructure and engineering company, has made a strategic move into India's upstream oil and gas sector with the acquisition of Quippo Oil & Gas Infrastructure Ltd. This acquisition represents a significant step for HMPL, transitioning from a pure-play EPC contractor to an integrated infrastructure and energy services provider.
The acquisition was completed through a competitive Swiss Challenge bidding process by HMPL's subsidiary, Vyom Hydrocarbon Private Limited. Quippo, a company that provides equipment services, technical support, and infrastructure solutions to the oil and gas exploration, drilling, and production activities sector, now comes under HMPL's umbrella, offering 100% equity ownership.
The move aligns with HMPL’s broader vision to become a vertically integrated player able to deliver across capital-heavy industries, fostering growth, diversification, and long-term value creation. It also corresponds with national energy priorities, such as the government's policies to reduce energy import dependence and encourage domestic hydrocarbon exploration and production.
Quippo's diversified service offerings across directional drilling, work-over, cementing, seismic, and integrated field development immediately enhance HMPL's qualification for large-scale offshore and integrated energy services contracts. The acquisition positions HMPL to benefit from recurring revenue models in upstream oil and gas exploration and production.
The acquisition also provides HMPL with a fleet of 14 advanced drilling rigs, a team of 400+ oilfield professionals, and a history of successful complex projects. These assets strengthen HMPL's operating base and provide a solid foundation for future growth in the offshore oilfield services sector.
In addition to the strategic benefits, the acquisition also offers platform synergies with HMPL's EPC, shipyard, and renewable verticals. This integration creates a structurally advantaged position for sustainable value creation.
Mr. Gurinder Kamboj, a nominee Director of HMPL, is also a member of Quippo's board. This shared leadership ensures a seamless integration of the two companies and a smooth transition into HMPL's new role in the oil and gas sector.
HMPL is listed on the Bombay Stock Exchange (BSE) with the symbol HAZOOR, BSE Code 532467, and ISIN INE550F01049. The company continues to demonstrate execution leadership across critical infrastructure segments, including highways, bridges, tunnels, ports, and renewable energy.
This acquisition represents more than diversification for HMPL; it signals the company's transition into a multi-vertical, asset-integrated platform capable of long-cycle participation in offshore energy, exploration, and production services. The acquisition represents a significant opportunity for HMPL to capitalise on the anticipated investment surge (over $100 billion by 2030) in energy infrastructure in India.
In summary, the acquisition of Quippo Oil & Gas Infrastructure Ltd. by HMPL: - Represents HMPL’s strategic shift from a pure-play EPC contractor to an integrated infrastructure and energy services provider; - Expands HMPL’s capabilities into offshore oilfield services, tapping into a high-demand, policy-supported sector; - Positions HMPL to benefit from recurring revenue models in upstream oil and gas exploration and production; - Aligns with India’s national energy goals and the anticipated investment surge in energy infrastructure.
This acquisition is a testament to HMPL's commitment to growth, diversification, and value creation for its shareholders.
- The acquisition of Quippo Oil & Gas Infrastructure Ltd. by Hazoor Multi Projects Ltd. (HMPL) signals their transition into a multi-vertical, asset-integrated platform, enabling them to participate in long-cycle offshore energy, exploration, and production services.
- With the integration of Quippo's technology and infrastructure solutions, HMPL is positioned to capitalize on recurring revenue models in upstream oil and gas exploration and production, while also aligning with national energy priorities and the anticipated investment surge in energy infrastructure in India.
