Seamec bags Rs 39-cr contract from ONGC

Seamec announced that it has received a notification of award (NOA) for a contract worth Rs 39.20 crore from Oil and Natural Gas Corporation (ONGC).

According to an exchange filing, the company has been awarded the contract for the repair and replacement of Spider Deck Members of Platform NLM9 in the Western Offshore region.

The total value of the order is Rs 39,20,00,000 and the project is to be executed within a period not exceeding 90 days, commencing around 16 October 2025.

The company also clarified that the transaction does not involve any related parties. Neither the promoter, the promoter group, nor any group companies have any financial or other interest in the awarding entity.

Seamec operates in two distinct verticals of the shipping business - offshore support vessels & services and bulk carrier charter business. The company owns six vessels and one barge in the offshore support business wherein the vessels are deployed in the domestic and international market. Shares of Seamec shed 0.92% to Rs 855.80 on the BSE.

Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of March 2025. The scrip added 0.21% to Rs 243.75 on the BSE.

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