Mumbai: Infrastructure and engineering firm Hazoor Multi Projects Ltd. (HMPL) has acquired Quippo Oil & Gas Infrastructure Ltd. through a competitive Swiss Challenge bidding process.
With this acquisition, HMPL makes a bold entry into India’s upstream Oil & Gas sector, particularly offshore services, reinforcing its transition into a multi-vertical enterprise with long-term value creation at its core.
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From Infrastructure to Integrated Energy Services
The acquisition, executed via a subsidiary, marks a decisive evolution in Hazoor Multi Projects’ journey – from a high-performing EPC player to a diversified platform operating across capital-intensive, high-barrier industries.
This strategic shift allows HMPL to participate in long-cycle offshore energy services, including exploration and production, creating a sustainable revenue model backed by strong market fundamentals and policy tailwinds.
“This acquisition is more than growth – it’s about positioning HMPL where the future is headed,” said Gurinder Kamboj, HMPL’s nominee Director on Quippo’s board.
“By combining infrastructure DNA with deep oilfield expertise, we’re building a capital-efficient, globally relevant platform with the flexibility to scale across geographies and service lines.”
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Strategic Value of the Quippo Acquisition by Hazoor Multi Projects
Quippo, a pioneer in India’s onshore oilfield services sector, brings significant strategic assets and capabilities to Hazoor Multi Projects, including:
- A fleet of 14 state-of-the-art drilling rigs (650 HP–3000 HP) equipped for deep and complex operations
- A skilled team of 400+ oilfield professionals with global experience and a safety-first operational ethos
- Proven track record, including successful delivery of India’s deepest well in Assam ahead of schedule
- Diversified service offerings across directional drilling, cementing, seismic services, and field development
These capabilities significantly boost HMPL’s eligibility for large-scale offshore and integrated energy services contracts across India and emerging global markets.
Strategic Growth Drivers and Synergies
The acquisition is aligned with India’s Open Acreage Licensing Policy (OALP) and broader national energy security objectives. It enhances HMPL’s strategic positioning through:
- High-margin recurring revenues from rig leasing and oilfield services
- Expanded access to upstream E&P markets in India and high-growth international regions
- Synergies with HMPL’s existing verticals across EPC, shipbuilding, and renewable energy
- Opportunities in strategic adjacencies like marine logistics, well services, and deepwater E&P
- Asset-light execution models that balance growth with risk management
Commitment to Long-Term Value Creation
Hazoor Multi Projects continues to demonstrate execution excellence across highways, tunnels, bridges, ports, and renewable energy infrastructure. The acquisition of Quippo reflects its strategic intent to become a vertically integrated player at the convergence of infrastructure, energy, and industrial services.
With this bold move, Hazoor Multi Projects positions itself at the forefront of India’s energy transformation, unlocking new opportunities for recurring revenues, operational leverage, and sustainable growth.
