Oil India Awards ₹280.1 Crore Rig Contract to HMPL's Quippo

Hazoor Multi Projects Ltd (HMPL) announced that its recently acquired subsidiary, Quippo Oil & Gas Infrastructure, has secured a ₹280.1 crore contract from Oil India Ltd for the charter hire of a drilling rig.

The development marks HMPL’s strategic shift from a pure-play EPC contractor to a diversified infrastructure and energy platform, capable of executing capital-intensive projects in the oil and gas sector. The company stated that the acquisition of Quippo was a fundamentals-led decision, aligned with India’s energy security goals and aimed at entering sectors with recurring revenues, low competition, and strong policy support.

Quippo operates a fleet of 14 advanced drilling rigs (ranging from 650 HP to 3000 HP), all equipped with top-drive systems for deep and complex drilling. Backed by 400+ skilled oilfield professionals, Quippo has completed over 125 wells across India, demonstrating robust technical and operational capabilities.

HMPL emphasized its long-term ambition to evolve from road infrastructure into a key contributor to India’s energy and industrial ecosystem, focused on sustainable growth, disciplined execution, and value creation across verticals.

News by Rahul Yelligetti.