Seamec Limited, a prominent player in the offshore services sector, has announced a significant expansion of its ongoing project with Oil and Natural Gas Corporation Limited (ONGC). The company has entered into an Addendum 01 with Posh India Offshore Private Limited, broadening the scope of their existing subcontract agreement.

Contract Details

The addendum, signed on September 16, 2025, builds upon the original subcontract agreement dated March 20, 2025. It encompasses additional installation activities for ONGC's Pipeline Replacement Project VIII (PRP-VIII Gr. B) and Daman Upside Development Project (DUDP). The expanded scope includes:

• Installation of riser clamps
• Bow string installation
• Other related installation works

Financial Impact

The contract value for these additional services is approximately USD 3.14 million, exclusive of Goods and Services Tax (GST). This value is based on unit rates for the maximum indicated quantity of additional scope work.

Project Significance

This expansion underscores Seamec Limited's growing involvement in critical offshore infrastructure projects. The Pipeline Replacement Project VIII and Daman Upside Development Project are significant undertakings for ONGC, aimed at enhancing India's offshore oil and gas production capabilities.

Corporate Disclosure

In compliance with regulatory requirements, Seamec Limited has disclosed this development to the stock exchanges. The company confirmed that the transaction does not constitute a related party deal, and the parties involved are not associated with Seamec's promoter group.

Market Implications

This addendum represents a positive development for Seamec Limited, potentially boosting its revenue and reinforcing its position in the offshore services market. The expanded project scope demonstrates the company's capability to secure additional work within existing contracts, which could be viewed favorably by investors and industry observers.

As the offshore energy sector continues to evolve, contracts like these highlight the ongoing investments in infrastructure maintenance and development in India's oil and gas industry. Seamec's involvement in these projects positions it as a key player in supporting the country's energy infrastructure goals.

Investors and stakeholders will likely monitor the execution of this expanded contract closely, as it could impact Seamec Limited's financial performance in the coming quarters.

Seamec Limited has announced the commencement of the second season of operations for its vessel SEAMEC PRINCESS on two significant offshore projects. The company informed the stock exchanges about this development through an official communication.

Project Details

According to the company's statement, SEAMEC PRINCESS has begun its work on two key projects:

1. Pipeline Replacement Project VIII (PRP-VIII Gr. B)
2. Daman Upside Development Project (DUDP)

The vessel commenced operations for these projects on September 13 at 1600 hours (4:00 PM IST).

Background

This deployment marks the continuation of SEAMEC PRINCESS's involvement in these projects. The company had previously notified the stock exchanges about the vessel's initial deployment for these projects on June 18, indicating a phased approach to the project execution.

Company Communication

S.N. Mohanty, President – Corporate Affairs, Legal and Company Secretary of Seamec Limited, signed the official communication to the stock exchanges. The company emphasized the importance of this information for stakeholders and requested the stock exchanges to update their records accordingly.

Impact on Operations

While the financial implications of this deployment were not disclosed in the announcement, the continuation of these projects suggests ongoing business activities for Seamec Limited in the offshore services sector. The Pipeline Replacement Project and the Daman Upside Development Project are likely to contribute to the company's operational performance in the coming months.

Investors and stakeholders may want to monitor future communications from Seamec Limited for updates on the progress of these projects and their potential impact on the company's financial performance.

Seamec Limited continues to demonstrate its commitment to transparency by promptly informing the stock exchanges about significant operational developments, in line with regulatory requirements for listed companies in India.