Seamec Ltd Secures ₹611.3 Million Contract with ONGC, Strengthening Offshore Services Portfolio

Seamec Ltd, a leading marine services and offshore support company, has announced it has received a substantial contract valued at approximately ₹611.3 million (around $5.61 million excluding GST) from Oil and Natural Gas Corporation Limited (ONGC). This contract is part of ONGC’s Pipeline Replacement Project VIII (PRP-VIII Group B) and the Daman Upside Development Project (DUDP), two critical offshore infrastructure initiatives that play a vital role in maintaining and enhancing India’s oil and gas production capabilities.

 

Key Highlights of the Seamec Ltd Contract:

 

The contract involves carrying out specialized installation works including riser clamps, bowstring assemblies, and other equipment essential for pipeline replacement and platform development.

 

It has been awarded through a subcontract agreement with Posh India Offshore Private Ltd and will be executed on a unit-rate basis, meaning payments are linked to the actual scope of work completed.

 

The contract is scheduled for completion by May 2026, reflecting a project timeline of significant operational scale.

 

The work enhances pipeline integrity and offshore platform safety, critical factors for uninterrupted energy supply and equipment longevity.

 

This new contract reinforces Seamec’s reputation as a trusted marine and offshore services provider in India’s oil and gas sector, underlining its operational expertise and commitment to timely project delivery.

 

Seamec’s diverse fleet and skilled workforce are well-positioned to meet the complex requirements of ONGC’s offshore projects.

 

The award confirms Seamec’s continued strong relationship with ONGC — the country’s largest state-owned oil and gas company and a key player in India’s energy sector.

 

Detailed Overview of Contract Scope and Strategic Impact

 

Installation Works and Project Significance

Seamec is tasked with executing precise installation and replacement services involving riser clamps and bowstring components — structural elements crucial for supporting and securing pipelines running between offshore platforms and subsea infrastructure. These works are part of larger programs by ONGC aimed at maintaining offshore production capacity and upgrading aging assets to conform with safety and environmental standards.

 

Operational Execution and Capabilities

The unit-rate subcontract allows flexibility and incentivizes efficient project execution as payments are tied directly to completed works. Seamec’s proficiency in marine operations, along with its fleet of diving support vessels and offshore logistics capabilities, ensures it can perform complex underwater installation and maintenance tasks safely and efficiently within the project timeframe.

 

Market Position and Growth Outlook

With this contract, Seamec solidifies its market position as a preferred partner for offshore oilfield services. The ongoing collaboration with ONGC and similar clientele supports steady revenue streams and growth potential in India’s expanding offshore energy sector. Seamec’s commitment to quality, safety, and environmental compliance aligns with industry best practices, helping it sustain competitive advantage.

 

Summary

Seamec Ltd’s contract valued at ₹611.3 million to execute high-precision offshore installation works for ONGC’s Pipeline Replacement Project VIII and Daman Upside Development Project marks a significant achievement. This engagement highlights Seamec’s technical expertise, robust project management capabilities, and strategic role in supporting India’s vital offshore energy infrastructure. With an operational completion target by May 2026, the contract reinforces Seamec’s leading position in marine services and offshore support, promising continued contributions to India’s energy security and industrial growth.

 

Source: PSU Connect, Angel One, Capital Market, Business Standard, August 11, 2025.