Seamec Limited, a prominent player in the offshore services sector, has reached an amicable settlement with Jumbo Offshore Limited, resolving an ongoing arbitration dispute. The agreement, signed on November 6, 2025, marks a significant development in the companies' relationship and their approach to a pending legal matter.

Key Points of the Agreement

• Dispute Resolution: Seamec and Jumbo Offshore have signed consent terms, effectively putting their arbitration proceedings on hold.
• Vessel Defense: Seamec has agreed to contest the arrest of Jumbo's vessel, 'Tug Maria', in the Gujarat High Court on behalf of Jumbo Offshore.
• Legal Representation: Seamec will act through a Power of Attorney granted by Jumbo to fight the case.

Impact on Seamec

According to the company's disclosure, the settlement is not expected to have any material impact on Seamec's financial position. This resolution potentially allows both companies to avoid prolonged legal proceedings and associated costs.

Transparency and Compliance

Seamec has promptly disclosed this development to the stock exchanges, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements. This transparency ensures that investors and stakeholders are kept informed of significant corporate actions.

Looking Ahead

While the arbitration proceedings are now in abeyance, the focus shifts to the legal battle in the Gujarat High Court regarding the arrest of 'Tug Maria'. The outcome of this case could have implications for both Seamec and Jumbo Offshore, particularly in terms of operational capabilities and asset utilization.

Investor Communication

In related news, Seamec has also announced upcoming investor interactions:

1. Participation in the Anand Rathi Annual Flagship Conference G200 Summit on November 12, 2025.
2. A Q2 FY 2025-26 earnings call scheduled for November 11, 2025, to be hosted by Arihant Capital Markets Ltd.

These events underscore Seamec's commitment to maintaining open lines of communication with its investors and analysts, providing opportunities for stakeholders to gain insights into the company's performance and strategy.

The resolution of the arbitration dispute with Jumbo Offshore, coupled with proactive investor engagement, demonstrates Seamec's focus on resolving challenges and maintaining transparency in its operations.

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.