Seamec Limited has announced the award of a significant contract to M/s. Adsun Offshore Diving Contractors Pvt Ltd, marking another milestone in its offshore services portfolio. The Letter of Award, dated December 18, 2025, encompasses comprehensive diving-related services for Oil and Natural Gas Corporation Limited (ONGC) projects.

Contract Details and Scope

The contract award represents a substantial business development for Seamec Limited's vessel operations. The following table outlines the key parameters of the awarded contract:

Project Scope and Services

The awarded contract encompasses diving services across multiple ONGC projects, demonstrating the comprehensive nature of the engagement. The services include specialized underwater operations such as:

• Jacket Face Riser Survey
• Riser Removal operations
• Installation of Crossings
• Free Span installations
• Bowstring and clamps installation

These services will be provided across three distinct ONGC projects: Part Replacement Pipeline Project, Pipeline Replacement Project-Group A (PRP-VIIIA), and DSF II Project.

Regulatory Compliance and Disclosure

Seamec Limited has fulfilled its regulatory obligations by disclosing this contract award under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the promoter/promoter group/group companies have no interest in the entity that was awarded the contract, and the transaction does not fall within related party transactions.

Strategic Significance

This contract award reinforces Seamec Limited's position in the offshore diving and marine services sector. The engagement with ONGC, India's leading oil and gas exploration company, highlights the company's capability to handle complex underwater operations and pipeline-related projects. The contract's execution over the 2025-26 working season provides revenue visibility for the company's vessel operations division.

Seamec Limited, a prominent player in the offshore oilfield services sector, has successfully completed a significant charter contract that strengthened its operational portfolio. The company had entered into a charter party agreement with A.D. Engineers & Contractors LLP and has now announced the successful completion of this project.

Contract Completion Update

The company has officially disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that vessel SEAMEC III has successfully completed its charter operations. The vessel was off-hired with effect from December 16, 2025, at 01:10 hours, marking the conclusion of the offshore operations project.

Original Contract Details

The agreement, valued at approximately ₹61.13 crores, involved the charter hire of Seamec's vessel 'SEAMEC III' for operations in ONGC oilfields located on the West Coast of India, primarily focusing on Saturation (SAT) Diving and Air Diving related jobs.

Operational Achievement

The successful completion of this charter agreement demonstrates Seamec's operational excellence and reliability in delivering specialized offshore services. The project involved complex underwater operations requiring specialized expertise in saturation diving and air diving services, which the company executed successfully within the stipulated timeframe.

Financial Impact

With the completion of this ₹61.13 crore contract, Seamec has successfully delivered on its commitment to A.D. Engineers & Contractors LLP. This contract completion is expected to positively contribute to the company's revenue recognition for the current fiscal year, reinforcing its financial performance in the offshore services segment.

Market Significance

The successful execution and completion of this high-value contract reinforces Seamec's strong market position and operational capabilities in the competitive offshore services market. The company's ability to deliver complex offshore projects on schedule demonstrates its technical expertise and project management capabilities, which are crucial factors for securing future contracts in the oil and gas sector.