Order Win / Offshore Contract
Seamec Secures ONGC Offshore Vessel Contract Worth ₹33 Cr
NSE
seamecltd
BSE
526807
Seamec Limited has received a Notification of Award (NOA) from Oil and Natural Gas Corporation (ONGC) for offshore vessel operations.
PRICE-SENSITIVE TRIGGER
Event: NOA Received from ONGC
Type: Order Win / Offshore Contract
Impact: Positive
Immediate Effect: Strengthens order book and ensures short-term revenue visibility.
Contract Duration
698 Days
Start Timeline
Within 60 days
Order Value
₹32,99,34,688
What Happened ?
Seamec Limited, in consortium with Supreme Hydro Pvt Ltd, has received a Notification of Award (NOA) from ONGC.
The contract includes:
- Hiring of services for Operation & Maintenance (O&M)
- Deployment on ONGC-owned vessel “Samudra Prabha”
- Execution period of 698 days (~2 years)
This falls under core offshore service operations of the company.
Detailed breakdwon
Awarding Authority
- Oil and Natural Gas Corporation Limited (ONGC)
Contract Structure
- Consortium: Seamec + Supreme Hydro Pvt Ltd
Scope of Work
- O&M services for offshore vessel
- marine and operational support services
Timeline
- Duration: 698 days
- Start: Within 60 days from NOA
Additional Notes
- No promoter interest involved
- Not a related party transaction
Management commentary
- Contract awarded in normal course of business
- No related party involvement
- Standard offshore service engagement
Risk Analysis
Key Risks
- Execution risks in offshore operations
- Dependence on oil & gas sector activity
- Moderate contract size (limited impact)
Worst Case Scenario
Operational delays → revenue deferment
Risk Level: Low to Medium
Reason:
- Standard business contract
- Limited size → manageable risk
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