ONGC Awards Rs 3,299.2 mn O&M Contract to SEAMEC Consortium

02 Apr 2026 CW Team

The scope of the O&M engagement encompasses comprehensive operation, technical maintenance, crew management and logistical support required for continuous offshore duties. Samudra Prabha is deployed for sub-sea inspection, repair and maintenance as well as emergency response across the western and eastern offshore basins. The services are intended to ensure the vessel remains available for round-the-clock support of exploration and production activities.

The award reinforces ONGC’s ability to sustain offshore operational capability without immediate capital expenditure on new vessels while supporting its efforts to boost domestic oil and gas output. ONGC continues to modernise its marine fleet to meet exploration targets in deep-water and ultra-deep-water blocks and to uphold safety standards. The long-term arrangement is expected to contribute to efficient asset management and operational continuity.

For SEAMEC the contract significantly strengthens revenue visibility and offshore order book, providing multi-year cash flow stability and higher utilisation of marine assets. The company reported a consolidated net profit of Rs 996.2 mn in the third quarter of fiscal 2026 and revenue of Rs 3,170.5 mn, and the order follows a history of vessel charters and maintenance contracts with ONGC. Market reaction was positive with shares rising around zero point five per cent to Rs 1,429 in early trading. Analysts regard the development as favourable for both parties and anticipate further O&M awards as India pursues energy security and higher offshore production.

Oil and Natural Gas Corporation has awarded Rs 3,299.2 million (Rs 3,299.2 mn) to a consortium led by SEAMEC Limited for operation and maintenance of the multi-support vessel Samudra Prabha for a period of 698 days covering 2026–2028. The Notification of Award issued by ONGC states that work under the contract is scheduled to commence within 60 days and that the consortium comprises SEAMEC Limited and Supreme Hydro Private Ltd. The contract value is inclusive of GST and was announced on 27 March 2026. The scope of the O&M engagement encompasses comprehensive operation, technical maintenance, crew management and logistical support required for continuous offshore duties. Samudra Prabha is deployed for sub-sea inspection, repair and maintenance as well as emergency response across the western and eastern offshore basins. The services are intended to ensure the vessel remains available for round-the-clock support of exploration and production activities. The award reinforces ONGC’s ability to sustain offshore operational capability without immediate capital expenditure on new vessels while supporting its efforts to boost domestic oil and gas output. ONGC continues to modernise its marine fleet to meet exploration targets in deep-water and ultra-deep-water blocks and to uphold safety standards. The long-term arrangement is expected to contribute to efficient asset management and operational continuity. For SEAMEC the contract significantly strengthens revenue visibility and offshore order book, providing multi-year cash flow stability and higher utilisation of marine assets. The company reported a consolidated net profit of Rs 996.2 mn in the third quarter of fiscal 2026 and revenue of Rs 3,170.5 mn, and the order follows a history of vessel charters and maintenance contracts with ONGC. Market reaction was positive with shares rising around zero point five per cent to Rs 1,429 in early trading. Analysts regard the development as favourable for both parties and anticipate further O&M awards as India pursues energy security and higher offshore production.

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