Seamec awards $3.25-million contract to Adsun Offshore

Marine services company Seamec Ltd on Thursday, December 18, announced that it has given a letter of award to Adsun Offshore Diving Contractors Pvt Ltd. The contract is for providing diving-related services on board the vessel Seamec III.

The scope of work includes the part replacement pipeline project, pipeline replacement project – group A (PRP-VIII A), and the DSF II project of Oil and Natural Gas Corporation Ltd (ONGC).

The total value of the contract is approximately $3.25 million, exclusive of GST. The work includes jacket face riser survey, riser removal, installation of crossings, free span, bow string, and clamps. The contract is scheduled to be executed over the 2025-26 working season.

Also Read: Marine company Seamec inks $19-million charter deals with HAL Offshore

The order has been awarded to a domestic entity, and Seamec confirmed that neither the promoter nor the promoter group or group companies have any interest in Adsun Offshore.

This month, Seamec entered into a contract with HAL Offshore Ltd for the charter hire of its multi-support vessel, Seamec Agastya (erstwhile NPP Nusantara), for deployment under HAL’s ongoing ONGC contract.

The agreement follows the company’s earlier communication on August 22, 2025. The vessel will be deployed for five years after the completion of its statutory dry dock.

Also Read: SEAMEC bags $5.61-million subcontract for ONGC pipeline and offshore projects

For the balance period of four years, the charter rate is set at $25,000 per day, taking the total charter value to approximately $43.07 million inclusive of GST. Seamec confirmed that the transaction qualifies as a related party transaction, executed on an arm’s length basis and in the ordinary course of business.

Shares of Seamec Ltd ended at ₹1,008.50, down by ₹3.85, or 0.38%, on the BSE.