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.

Equipment

22 Apr 2026

MYCRANE Crosses 1,000 Customers in India

MYCRANE, the global platform for crane rental and purchase, has achieved major commercial milestones in India, reinforcing the country’s position as one of its fastest-growing strategic markets. The company has surpassed 1,000 registered customers and 1,000 crane suppliers nationwide, while completing more than 100 paid orders.The growth reflects rising adoption of digital procurement solutions across India’s construction, infrastructure, energy and industrial sectors. Equipment sourced through the platform is supporting projects across the country, with several leading contractors and EPC..

Infrastructure Urban

22 Apr 2026

AMTOE 2026 Opens Global Machine Tool Sourcing Hub

The Asian Machine Tool Online Exhibition 2026 (AMTOE 2026) has officially opened as a B2B sourcing platform connecting global buyers with verified Asian suppliers across the machine tool and manufacturing sector. The exhibition will run until 31 October 2026 through a hybrid online and offline model, offering extended sourcing and business networking opportunities.Co-organised by AsianNet and TradeAsia, the event aims to strengthen links between Asian manufacturers and international importers while improving cross-border procurement efficiency and supplier matching.Since launching in 2022, AMT..

Infrastructure Energy

22 Apr 2026

Vedanta Lifts Renewable Energy Use by Over 50%

On World Earth Day, Vedanta Limited announced that its renewable energy usage rose by over 50 per cent year on year to 3.97 billion units in FY26, helping avoid 3 million tonnes of carbon dioxide emissions.The company said its portfolio of metals, minerals, power, and oil & gas continues to support advanced manufacturing, electrification, energy transition and clean technology. Aluminium, copper and silver remain critical for applications such as mobility, power transmission, renewable infrastructure and solar photovoltaics, while iron, steel and zinc continue to support energy infrastruct..