Hazoor Multi Projects Enters Offshore Oilfield Services via Quippo Buy

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Hazoor Multi Projects (HMPL) is expanding into India's upstream Oil & Gas sector with the acquisition of Quippo Oil and Gas Infrastructure Limited for ₹57.42 lakhs. The strategic move aims to drive growth, diversify operations, and create long-term value for Hazoor Multi Projects' investors.

The acquisition was finalized through a competitive Swiss Challenge bidding process. M/s. Vyom Hydrocarbon Private Limited, a subsidiary of Hazoor Multi Projects Limited, has acquired 100% of Quippo's equity shareholding.

Quippo Oil and Gas Infrastructure Limited provides equipment services and infrastructure solutions to the Oil & Gas industry, both onshore and offshore. Its operations encompass rental of oilfield equipment, technical, operational, and consulting services, and support for exploration, drilling, and production activities.

Quippo Oil and Gas Infrastructure Limited - Key Details:

• Date of Incorporation: July 1, 2005
• Turnover (As on March 31, 2024): ₹294.97 Crore

Radheshyam Laxmanrao Mopalwar, Managing Director of Hazoor Multi Projects, stated the acquisition aligns with the company's strategic objectives for expansion and diversification in the energy sector.

The company aims to strategically expand into India's upstream Oil & Gas sector, focusing on offshore services, in a move expected to signal growth and diversification.