Seamec Limited has provided an update on its arbitration dispute with Jumbo Offshore Enterprises, announcing the closure of arbitration proceedings and the signing of additional consent terms. The latest development, disclosed on December 19, 2025, marks the conclusion of the arbitration phase while legal proceedings continue in the Gujarat High Court.

Latest Developments

The company has signed additional consent terms with Maria Offshore International LLP, the sister concern of Jumbo Offshore Enterprises, for technical reasons related to pursuing the matter before the Gujarat High Court. The arbitration proceedings, which were previously kept under abeyance, have now been formally closed.

Background of the Dispute

The original agreement between Seamec and Jumbo Offshore Limited was signed on November 6, 2025, which put their arbitration proceedings on hold. Under the initial settlement terms, Seamec had agreed to contest the arrest of Jumbo's vessel, 'Tug Maria', in the Gujarat High Court on behalf of Jumbo Offshore through a Power of Attorney arrangement.

Current Legal Status

While the arbitration proceedings have concluded, there is no material change regarding the pursuit of legal proceedings in the Gujarat High Court. The company continues to defend the vessel arrest case as previously agreed, with the additional involvement of Maria Offshore International LLP in the consent terms.

Financial Impact

Consistent with the company's earlier disclosure, there remains no material impact of this settlement on Seamec's financial position. The resolution allows both parties to avoid prolonged arbitration costs while focusing on the remaining legal proceedings in the Gujarat High Court.

Regulatory Compliance

Seamec has maintained its commitment to transparency by promptly disclosing this development to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements, ensuring investors remain informed of significant corporate developments.

Seamec Limited , a prominent player in the offshore services sector, has announced a significant operational update regarding its HAL vessel MV GOODMAN. The company has officially confirmed that the vessel has been successfully deployed for Oil and Natural Gas Corporation's (ONGC) NLM9 project, marking a notable development in its operational activities.

Deployment Details

The deployment of MV GOODMAN represents a strategic move for Seamec Limited in its ongoing collaboration with ONGC. Here are the key details of the vessel's deployment:

Regulatory Compliance

In adherence to regulatory requirements, Seamec Limited promptly informed the stock exchanges about this operational update. The company's disclosure aligns with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to transparency and regulatory compliance.

Corporate Communication

The deployment status was officially communicated to both the BSE Limited and the National Stock Exchange of India Limited. This proactive approach in sharing operational updates underscores Seamec Limited's dedication to keeping its stakeholders informed about key developments that may impact the company's performance and market position.

Conclusion

The commencement of MV GOODMAN's operations for ONGC's NLM9 project marks a positive step for Seamec Limited. While the specific details of the project and its potential impact on the company's financials have not been disclosed, this deployment indicates ongoing business activity and collaboration with a major player in India's oil and gas sector. Stakeholders and market observers will likely keep a close watch on further developments related to this operational update.