Hazoor Multi Projects Share Price Surges as its Subsidiary Secures ₹280.1 Crore Contract from Oil India

Hazoor Multi Projects Ltd. (HMPL) has announced that its subsidiary, Quippo Oil & Gas Infrastructure Ltd, has received a contract worth ₹280.1 crore from Oil India Limited. The agreement covers the charter hire of one drilling rig for a period of 4 years. The total value of the order includes 12% GST.

The project involves operations in the upstream oil and gas sector. This is the first major contract for HMPL in this segment since acquiring Quippo Oil & Gas Infrastructure. The subsidiary works in onshore oilfield services and will handle the execution of the order.

Quippo’s Existing Operations

Quippo operates a fleet of 14 drilling rigs with horsepower ranging from 650 HP to 3000 HP. The company has previously completed more than 125 wells across India. This includes the deepest onshore well in the country, drilled in Assam, which was completed ahead of schedule and under budget.

Sector Background

The upstream oil and gas sector in India is expected to grow, supported by government initiatives to reduce import dependency and encourage domestic exploration. Policies such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) aim to attract further investment in this area. 

Read more: Best Oil and Gas Stocks in India in August 2025- Oil India, ONGC, and Others Based on 5Y CAGR!

Hazoor Multi Projects Share Price Performance 

As of 9:31 AM on August 12, 2025, Hazoor Multi Projects share price was trading at ₹44.18, a 0.98% increase.

Conclusion

The ₹280.1 crore order will be executed over 4 years, adding to Quippo’s existing portfolio in the onshore oilfield services sector. The government is dedicated to cutting energy import reliance by 10% and aims to draw more than $100 billion in energy infrastructure investments by 2030.

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