Seamec Limited has announced the closure of arbitration cases involving Maria Offshore International and Jumbo Offshore. This development represents a significant milestone for the offshore services company in resolving pending legal disputes.

Arbitration Resolution Details

The company has successfully concluded arbitration proceedings with both entities, bringing closure to what were likely complex commercial disputes. The resolution of these cases removes potential legal uncertainties that may have been affecting the company's operations.

Business Implications

The closure of these arbitration cases allows Seamec to move forward without the burden of ongoing legal proceedings. This resolution eliminates potential financial and operational uncertainties associated with prolonged arbitration processes.

For stakeholders, this development signals the company's ability to resolve commercial disputes and maintain business relationships within the offshore services sector. The successful conclusion of these cases demonstrates effective dispute management and legal strategy execution.

Strategic Outlook

With these legal matters resolved, Seamec can now focus entirely on its core offshore services operations without the distraction of pending arbitration proceedings. The closure removes any potential contingent liabilities or claims that might have impacted the company's financial planning and business strategy.

This resolution strengthens the company's position in the offshore services market by clearing legal impediments and allowing management to concentrate on operational excellence and business growth initiatives.

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.