SEAMEC Limited has entered into a contract worth approximately $55 million with HAL Offshore Limited to charter its vessel SEAMEC ANANT for inspection, maintenance and repair (IMR) work for Oil and Natural Gas Corporation (ONGC).
According to a stock exchange filing dated October 21, 2026, the charter period is approximately 1,225 days, subject to the terms of HAL Offshore’s charter agreement with ONGC. The contract is valued at about $55 million, excluding goods and services tax (GST).
SEAMEC said the agreement was executed on October 21 at 4.33 pm and disclosed the details to the BSE and the National Stock Exchange (NSE).
SEAMEC contract with HAL Offshore: Key details
The agreement covers the charter of SEAMEC ANANT for deployment on ONGC’s offshore inspection, maintenance and repair jobs. The 1,225-day period is subject to HAL Offshore’s underlying charter agreement with ONGC.
SEAMEC disclosed the contract under Regulation 30 of the Securities and Exchange Board of India’s (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, read with the regulator’s circular dated January 30, 2026.
HAL Offshore holds 70.77% stake in SEAMEC
HAL Offshore is SEAMEC’s promoter and holds a 70.77% stake in the company, according to the annexure accompanying the filing.
SEAMEC classified the agreement as a related-party transaction conducted in the normal course of business and on an arm’s-length basis.
The annexure states that the agreement does not provide for significant special rights, such as the appointment of directors, preferential subscription rights in the event of a share issuance or restrictions on changes to the company’s capital structure. It also lists no additional disclosures relating to share issuances, loan agreements, board nominees or potential conflicts of interest.
SEAMEC shares closed at ₹1,573.10 on the NSE on Wednesday, October 21, down ₹15.60, or 0.98%, from the previous close. The stock opened at ₹1,608 during the session.