Mumbai, 4 December 2025: SEAMEC Limited has entered into a charter hire agreement with its promoter entity, HAL Offshore Limited, for the deployment of its multi-support vessel SEAMEC Agastya under an ongoing ONGC project.
Under the contract, dated December 4, 2025, SEAMEC will charter the vessel—formerly known as NPP Nusantara—to HAL Offshore for a total period of five years, commencing after the completion of the vessel’s statutory dry dock. The agreed charter hire rate is USD 25,000 per day for the remaining four-year operational tenure. The total charter value is estimated at USD 43.07 million, inclusive of applicable GST.
Deployment Under ONGC Contract
The vessel will be deployed as part of HAL Offshore’s existing contract with Oil and Natural Gas Corporation (ONGC), strengthening SEAMEC’s offshore marine services order book within the Indian oil and gas sector.
Related-Party Transaction
HAL Offshore Limited currently holds a 70.77% stake in SEAMEC Limited, making it the promoter of the company. As a result, the transaction qualifies as a related party transaction, SEAMEC said in its regulatory filing. The company clarified that the contract has been executed on an arm’s-length basis and in the normal course of business.
SEAMEC made the disclosure in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, read with the relevant SEBI circular dated November 11, 2024.