SEAMEC Wins ₹410.74 Crore ONGC Contract for Samudra Sevak Operations
SEAMEC Limited has won a major ₹410.74 crore contract from ONGC for Operation & Maintenance services of MSV Samudra Sevak vessel. The contract, awarded to a consortium of SEAMEC and Supreme Hydro Pvt Ltd, spans 738 days from 2026-2028 and will commence within 60 days of the March 13, 2026 NOA date, significantly boosting SEAMEC's offshore services portfolio.
*this image is generated using AI for illustrative purposes only.
SEAMEC Limited has secured a substantial contract worth ₹410.74 crore from Oil and Natural Gas Corporation (ONGC) for the operation and maintenance of the "Samudra Sevak" vessel. The company received the Notification of Award (NOA) on March 13, 2026, marking a significant milestone in its offshore drilling and marine services operations.
Contract Details and Partnership
The comprehensive agreement has been awarded to a consortium comprising SEAMEC Limited and Supreme Hydro Pvt Ltd for hiring Operation & Maintenance (O&M) services for ONGC's MSV "Samudra Sevak" spanning 2026-2028. The contract encompasses complete operational and maintenance responsibilities for the sophisticated offshore vessel.
| Contract Parameter: | Details |
|---|---|
| Contract Value: | ₹410.74 crore (inclusive of GST) |
| Client: | Oil and Natural Gas Corporation (ONGC) |
| Vessel: | MSV Samudra Sevak |
| Services: | Operation and Maintenance |
| Duration: | 738 days |
| Commencement: | Within 60 days from NOA date |
| Partnership: | Consortium with Supreme Hydro Pvt Ltd |
Timeline and Execution
The contract tenure spans 738 days and will commence within 60 days from the date of the NOA issued on March 13, 2026. This timeline provides SEAMEC and its consortium partner adequate preparation time to mobilize resources and ensure seamless transition of vessel operations.
Strategic Significance
This contract award reinforces SEAMEC's established relationship with ONGC, India's premier oil and gas exploration company. The agreement positions SEAMEC as a trusted partner in ONGC's offshore operations, highlighting the company's proven track record in vessel management and marine services. The partnership with Supreme Hydro Pvt Ltd demonstrates SEAMEC's collaborative approach to handling large-scale marine infrastructure projects.
Business Impact
The ₹410.74 crore contract represents a significant addition to SEAMEC's order book, providing substantial revenue visibility and operational stability. This partnership with ONGC further establishes SEAMEC's credentials as a leading service provider in India's offshore energy sector, conducted in the normal course of business as a domestic contract with no related party transactions involved.
Historical Stock Returns for Seamec
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.22% | +1.74% | +3.77% | +44.58% | +45.77% | +229.63% |
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