Latest news with #HydrocarbonExplorationandLicensingPolicy
Business Standard
a day ago
- Business
- Business Standard
HMPL's Subsidiary Quippo Oil & Gas Infrastructure Secures Rs. 280.1 Cr Oil India Limited's Order
NewsVoir Mumbai (Maharashtra) [India], August 11: Hazoor Multi Projects Ltd. (HMPL), one of India's fastest-growing infrastructure and engineering enterprises, is pleased to announce that its recently acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., has been awarded a contract valued at Rs. 280.1 Crore by Oil India Limited, a Maharatna Public Sector Undertaking (PSU). The contract involves the charter hire of one drilling rig, reinforcing Quippo's credentials in the upstream oil and gas services domain and marking HMPL's bold entry into India's upstream energy services sector-positioning the company to play a long-term role in the country's energy infrastructure development. This Oil India Order is more than a business win-it signals HMPL's strategic shift from a pure-play EPC operator to an integrated platform capable of executing in capital-intensive, high-barrier industries. The acquisition of Quippo was a deliberate, fundamentals-driven step aligned with national energy priorities, aimed at unlocking value in sectors characterized by recurring revenues, limited competition, and policy-driven tailwinds. India's upstream Oil and Gas sector is poised for significant expansion, supported by the government's commitment to reduce energy import dependence by 10% and attract over $100 billion in energy infrastructure investment by 2030. Policy enablers such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) are designed to boost domestic exploration and enhance oil recovery, creating sustained demand for high-performance service providers like Quippo. Quippo, a pioneer in India's onshore oilfield services landscape, significantly strengthens HMPL's operating base with deep technical and executional capabilities. Its asset base includes a fleet of 14 advanced drilling rigs, ranging from 650 HP to 3000 HP, equipped with top-drive systems capable of deep and complex drilling operations. Supported by a team of over 400 oilfield professionals with global experience and a strong safety-first culture, Quippo has a proven track record, including the successful execution of over 125 wells across India, notably delivering the deepest onshore well in Indian history-in Assam-completed ahead of schedule and under budget. Its diversified service portfolio spans directional drilling, work-over operations, cementing, seismic surveys, and integrated field development, making it one of the few Indian players capable of offering end-to-end upstream solutions. These capabilities immediately enhance HMPL's ability to pursue large-scale, integrated energy service contracts within the oil and gas industry. With high entry barriers, limited domestic competition, and increasing demand for turnkey service models, Quippo's platform positions HMPL at the center of a sector that offers stable, recurring revenue, margin durability, and long-cycle growth potential. HMPL's evolution reflects a broader ambition-not merely to be a contractor of road infrastructure, but to emerge as a strategic partner in India's energy and industrial growth story, with a clear focus on creating sustainable, long-term stakeholder value through disciplined execution, intelligent diversification, and consistent value creation across all its verticals. Hazoor Multi Projects Ltd. (HMPL) is a BSE listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works, and shipyard services and now in Oil and Gas Sector. Known for execution excellence and strategic clarity, HMPL has built a solid track record across capital-intensive, nationally significant projects. With a focus on scalable growth, recurring revenues, and multi-vertical integration, HMPL is building a future-ready platform at the intersection of infrastructure, energy, and industrial technology.
Fashion Value Chain
a day ago
- Business
- Fashion Value Chain
HMPL's Subsidiary Quippo Oil & Gas Infrastructure Secures Rs. 280.1 Cr Oil India Limited's Order
Hazoor Multi Projects Ltd. (HMPL), one of Indias fastest-growing infrastructure and engineering enterprises, is pleased to announce that its recently acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., has been awarded a contract valued at Rs. 280.1 Crore by Oil India Limited, a Maharatna Public Sector Undertaking (PSU). The contract involves the charter hire of one drilling rig, reinforcing Quippos credentials in the upstream oil and gas services domain and marking HMPLs bold entry into Indias upstream energy services sector-positioning the company to play a long-term role in the countrys energy infrastructure development. This Oil India Order is more than a business win-it signals HMPLs strategic shift from a pure-play EPC operator to an integrated platform capable of executing in capital-intensive, high-barrier industries. The acquisition of Quippo was a deliberate, fundamentals-driven step aligned with national energy priorities, aimed at unlocking value in sectors characterized by recurring revenues, limited competition, and policy-driven tailwinds. Indias upstream Oil and Gas sector is poised for significant expansion, supported by the governments commitment to reduce energy import dependence by 10% and attract over $100 billion in energy infrastructure investment by 2030. Policy enablers such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) are designed to boost domestic exploration and enhance oil recovery, creating sustained demand for high-performance service providers like Quippo. Quippo, a pioneer in Indias onshore oilfield services landscape, significantly strengthens HMPLs operating base with deep technical and executional capabilities. Its asset base includes a fleet of 14 advanced drilling rigs, ranging from 650 HP to 3000 HP, equipped with top-drive systems capable of deep and complex drilling operations. Supported by a team of over 400 oilfield professionals with global experience and a strong safety-first culture, Quippo has a proven track record, including the successful execution of over 125 wells across India, notably delivering the deepest onshore well in Indian history-in Assam-completed ahead of schedule and under budget. Its diversified service portfolio spans directional drilling, work-over operations, cementing, seismic surveys, and integrated field development, making it one of the few Indian players capable of offering end-to-end upstream solutions. These capabilities immediately enhance HMPLs ability to pursue large-scale, integrated energy service contracts within the oil and gas industry. With high entry barriers, limited domestic competition, and increasing demand for turnkey service models, Quippos platform positions HMPL at the center of a sector that offers stable, recurring revenue, margin durability, and long-cycle growth potential. HMPLs evolution reflects a broader ambition-not merely to be a contractor of road infrastructure, but to emerge as a strategic partner in Indias energy and industrial growth story, with a clear focus on creating sustainable, long-term stakeholder value through disciplined execution, intelligent diversification, and consistent value creation across all its verticals. About Hazoor Multi Projects Ltd. (HMPL) Hazoor Multi Projects Ltd. (HMPL) is a BSE listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works, and shipyard services and now in Oil and Gas Sector. Known for execution excellence and strategic clarity, HMPL has built a solid track record across capital-intensive, nationally significant projects. With a focus on scalable growth, recurring revenues, and multi-vertical integration, HMPL is building a future-ready platform at the intersection of infrastructure, energy, and industrial technology.
The Hindu
29-07-2025
- Business
- The Hindu
RIL sets up JV with ONGC, BP for exploration off western coast
Reliance Industries Ltd. (RIL) has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Ltd. (ONGC) and BP Exploration (Alpha) Ltd. (BP) for the exploration Block GS-OSHP-2022/2 (Block). This Block located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy. The parties will pursue exploration operation in the Block pursuant to the terms of award of the Block, RIL said in a statement.
Fibre2Fashion
29-07-2025
- Business
- Fibre2Fashion
RIL, ONGC & BP sign pact for offshore Saurashtra block
Pic: Pexels/Zukiman Mohamad Reliance Industries Limited ('RIL') has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Limited ('ONGC') and BP Exploration (Alpha) Limited ('BP') for the exploration Block GS-OSHP-2022/2 ('Block'). This Block in located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy. Parties will pursue exploration operation in the Block pursuant to the terms of award of the Block. Reliance Industries, Oil and Natural Gas Corporation Limited, and BP Exploration have signed a Joint Operating Agreement for Block GS-OSHP-2022/2 in the Saurashtra basin, off India's western coast. The Block was awarded under the Hydrocarbon Exploration and Licensing Policy, and the partners will jointly pursue exploration operations as per the terms of the award. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
Time of India
29-07-2025
- Business
- Time of India
Reliance signs joint operating agreement with ONGC, BP for Saurashtra block
New Delhi: Reliance Industries Ltd has entered into a joint operating agreement with state-owned Oil and Natural Gas Corporation ( ONGC ) and BP Exploration for a Saurashtra basin oil and gas exploration block, the firm said on Tuesday. The three firms had, for the first time, come together to bid for an area for finding and producing oil and gas in offshore exploration of Block GS-OSHP-2022/2 in the 9th bid round of Open Acreage Licensing Policy (OALP) last year. The block, located off the western coast in the Saurashtra Basin, spans an area of 5,454 square kilometres and is classified under Category-II basins. The consortium, with ONGC designated as the operator, will undertake exploratory activities aimed at assessing and harnessing the hydrocarbon potential of the region. " Reliance has entered into a joint operating agreement with ONGC and BP Exploration (Alpha) Limited (BP) for the exploration Block GS-OSHP-2022/2," the firm said in a statement. "This Block is located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy. Parties will pursue exploration operation in the Block pursuant to the terms of award of the Block." The agreement was signed on July 28 at ONGC's office.
