Seamec Ltd Secures $16.72M Vessel Charter Contract with GRIL
Filing Summary
Seamec Ltd has entered into a subcontract with G R Infraprojects Limited for the charter hire of its vessel, SEAMEC III. The vessel will be deployed for subsea installation and diving works in projects for Oil and Natural Gas Corporation Limited (ONGC). The contract is valued at approximately USD 16.72 million, exclusive of GST, and spans a tenure of 150 days. This agreement is part of the Part Replacement Pipeline Project, Pipeline Replacement Project – Group A (PRP-VIII A), and DSF II Project. The transaction does not involve related party transactions.
Seamec Ltd has announced a subcontract agreement with G R Infraprojects Limited for the charter hire of its vessel, SEAMEC III. The vessel will be utilized in subsea installation and diving works for the Oil and Natural Gas Corporation Limited (ONGC). This agreement is part of the Part Replacement Pipeline Project, Pipeline Replacement Project – Group A (PRP-VIII A), and DSF II Project. The contract is structured on a lumpsum basis.
The financial terms of the contract specify a total value of approximately USD 16.72 million, exclusive of GST. This amount reflects the comprehensive scope of work to be undertaken by Seamec Ltd under the subcontract. The agreement does not involve any shareholding or special rights such as appointing directors or altering capital structure. Additionally, the transaction is not classified as a related party transaction, ensuring it is conducted at arm’s length.
The operational scope of the contract involves deploying the SEAMEC III vessel for subsea installation and diving operations. These activities are integral to the Part Replacement Pipeline Project, Pipeline Replacement Project – Group A (PRP-VIII A), and DSF II Project, all of which are associated with ONGC. The vessel’s deployment is scheduled for a period of 150 days, during which it will perform the specified tasks as per the contract terms.
The contract was awarded by a domestic entity, G R Infraprojects Limited, and falls within the normal course of business for Seamec Ltd. The agreement outlines the specific deliverables and technical specifications required for the successful completion of the subsea installation and diving works. The subcontract is a part of Seamec Ltd’s ongoing business operations in the marine and offshore sectors.
The timeline for the subcontract is set for 150 days, during which the SEAMEC III vessel will be operational in the designated projects. The contract was formalized on December 11, 2025, with the intimation of the event received at 09:58 hours on the same day. This timeline ensures that the project milestones are met within the stipulated period.
G R Infraprojects Limited is a company engaged in infrastructure development, focusing on projects such as highways, bridges, and other civil construction works. The collaboration with Seamec Ltd for the ONGC projects aligns with its strategic initiatives in expanding its operational capabilities in the marine infrastructure sector.
Seamec Ltd specializes in providing marine and offshore services, including vessel management and subsea operations. The company is committed to expanding its service offerings in the oil and gas sector, leveraging its expertise in marine operations to secure strategic contracts and partnerships.