Marine services company SEAMEC Ltd has secured a significant contract worth ₹410.74 crore from Oil and Natural Gas Corporation Ltd (ONGC) for operation and maintenance services of the ONGC-owned multipurpose support vessel Samudra Sevak. According to reports from CNBC TV18 and Moneycontrol, the contract was awarded on March 13, 2026, with work scheduled to begin within 60 days of the award notification. The contract tenure spans 738 days from the commencement date, covering the 2026-2028 period.
The contract has been awarded to a consortium comprising SEAMEC Ltd and Supreme Hydro Private Ltd for providing operation and maintenance services for the ONGC-owned vessel. As reported by CNBC TV18, SEAMEC confirmed that the promoter, promoter group and group companies have no interest in ONGC, and the contract does not fall under related party transactions. The scope of work includes the part replacement pipeline project, pipeline replacement project – group A (PRP-VIII A), and the DSF II project of ONGC.
Shares of SEAMEC Ltd ended at ₹1,329.15, declining by ₹6.10 or 0.46% in the previous trading session on March 13, 2026. According to Moneycontrol, the stock has demonstrated strong performance with a 54% rise in the last nine months. The company's 52-week high stands at ₹1,446.80 and 52-week low at ₹753.00, recorded on February 17, 2026, and August 6, 2025, respectively. Currently, the stock is trading 8.13% below its 52-week high and 76.51% above its 52-week low, with the company's market capitalisation standing at ₹3,379.36 crore.
In February 2026, SEAMEC's vessel SEAMEC PRINCESS was charter-hired by Supreme Offshore Construction & Technical Services for operations in ONGC's oilfields on the west coast of India. As reported by Moneycontrol, the total value of this contract is approximately US$ 0.46 million. This recent contract demonstrates the company's continued expansion in the offshore services sector and strengthens its relationship with ONGC for operational support services.
In December of the previous year, SEAMEC announced it had given a letter of award to Adsun Offshore Diving Contractors Pvt Ltd for providing diving-related services on board the vessel Seamec III. As reported by CNBC TV18, this contract was worth approximately $3.25 million, exclusive of GST, and was scheduled to be executed over the 2025-26 working season. The order was awarded to a domestic entity, with SEAMEC confirming that neither the promoter nor the promoter group or group companies have any interest in Adsun Offshore.
