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.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

Infrastructure Transport

02 Apr 2026

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Technology

02 Apr 2026

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..