Seamec Limited Secures Agreement with HAL Offshore for Subsea Diving Services Worth USD 9.42 Million
Seamec Limited has entered into a Diving Agreement with M/s. HAL Offshore Limited (HAL) for the provision of diving subsea services. The agreement, formalized on July 23, 2026, concerns work to be performed aboard the ONGC Vessel 'SAMUDRA PRABHA,' which is managed by SEAMEC.The total contract value for the transaction stands at approximately USD 9.42 million, exclusive of GST.
This agreement constitutes a Related Party Transaction and has been conducted on an Arm's Length basis within the normal course of business operations for both parties.
HAL Offshore Limited holds a significant stake in SEAMEC Limited, with the company holding 70.77% shareholding in Seamec Limited. Furthermore, HAL Offshore Limited is identified as the Promoter of SEAMEC Limited.
Details regarding this agreement are summarized below:
| Description | Details |
|---|---|
| Contracting Parties | M/s. HAL Offshore Limited |
| Purpose of Agreement | Availing Diving Subsea Services on ONGC Vessel 'SAMUDRA PRABHA' managed by SEAMEC |
| Agreement Value | Approximately USD 9.42 million exclusive of GST |
| Relationship Status | Related Party Transaction, conducted at Arm's Length |
| Stakeholding in Seamec Limited | HAL Offshore Limited holds 70.77% of shareholding in SEAMEC Limited |
The collaboration between the two companies involves the delivery of specialized diving subsea services by HAL on behalf of SEAMEC through the specified vessel.
SEAMECLTD Stock Price Movement
Seamec Limited shares edged higher today in post-market trading, closing at ₹1402.1 after gaining 2.50%. The stock saw robust activity during the session, with a total traded volume of 40,728 shares recorded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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