Multi-Projects Venture Takes Over Quippo's Oil and Gas Infrastructure Assets
Hazoor Multi Projects Ltd. (HMPL) Expands into Upstream Oil & Gas Sector with Acquisition of Quippo
Hazoor Multi Projects Ltd. (HMPL), a BSE-listed diversified infrastructure and engineering company based in Mumbai, has made a significant stride in its business expansion by acquiring Quippo Oil & Gas Infrastructure Ltd. This acquisition marks HMPL's entry into the upstream Oil & Gas sector, specifically offshore oilfield services.
Quippo Oil & Gas Infrastructure Ltd., incorporated on July 1, 2005, specializes in providing comprehensive equipment services, infrastructure solutions, and support for exploration, drilling, and production activities in the oil and gas industry.
The acquisition was completed through a subsidiary route, with HMPL's subsidiary Vyom Hydrocarbon Private Limited acquiring 100% equity of Quippo. The deal was finalized via a competitive Swiss Challenge bidding process, with HMPL paying approximately ₹57.42 lakhs for the acquisition.
The acquisition positions HMPL for future growth in the energy services sector. The company expects synergies between Quippo’s oilfield service capabilities and its own execution expertise, potentially generating operating leverage across infrastructure and energy verticals with recurring revenue streams and limited competition.
Quippo's team of 400+ oilfield professionals brings global experience and a safety-first operational discipline to HMPL. The company's fleet of 14 advanced drilling rigs includes top-drive systems for deep and complex drilling operations. Quippo offers diversified service offerings across directional drilling, work-over, cementing, seismic, and integrated field development.
The acquisition allows HMPL to enter the upstream Oil & Gas sector, specifically offshore services. This shift is designed to diversify the company’s portfolio, tap into higher-value energy sector markets, and create sustainable long-term growth fueled by national energy demand and policy support.
Moreover, the acquisition opens up optionality in strategic adjacencies including well-services, marine logistics, and deepwater EP. This expansion into the upstream Oil & Gas sector signifies HMPL’s transition from a pure-play EPC operator into a multi-vertical, asset-integrated platform.
Mr. Gurinder Kamboj, a nominee Director on Quippo's board, has made a statement about the acquisition, expressing confidence in HMPL's ability to leverage Quippo's capabilities for sustainable value creation.
HMPL's focus on aligning with macro trends and national imperatives is evident in the timing of the acquisition. The acquisition enables HMPL to tap into an industry segment characterized by recurring revenues, limited competition, strong demand fundamentals, and policy-driven growth tailwinds. The acquisition also expands HMPL’s market reach to upstream E&P in India and high-growth international regions.
In summary, HMPL’s acquisition of Quippo Oil & Gas Infrastructure Ltd. is a strategic move that positions the company for growth in a capital-heavy, technically demanding industry with attractive future prospects. The integration of Quippo’s specialized oilfield services with HMPL’s infrastructure capabilities is expected to generate significant value for both companies and their shareholders.
- The acquisition of Quippo by Hazoor Multi Projects Ltd. (HMPL) signifies a transition for HMPL, moving from a pure-play EPC operator into a multi-vertical, asset-integrated platform in the oil-and-gas industry.
- The acquisition also highlights HMPL's focus onaligning with macro trends and national imperatives, as the company aims to tap into an industry segment characterized by recurring revenues, limited competition, strong demand fundamentals, and policy-driven growth tailwinds.
- The integraton of Quippo's specialized oilfield services with HMPL's infrastructure capabilities will potentially generate operating leverage across infrastructure, energy, and finance verticals, and create sustainable long-term growth in the energy services sector.
