SEAMEC Limited
Diving Agreement with HAL Offshore Limited
Main Body:
SEAMEC Limited has entered into a Diving Agreement with HAL Offshore Limited (HAL) on July 23, 2026, for availing Diving Subsea Services on the ONGC Vessel "SAMUDRA PRABHA," which is managed by SEAMEC.
The total contract value is approximately USD 9.42 million, exclusive of GST.
The agreement is a Related Party Transaction, as HAL Offshore Limited holds a 70.77% shareholding in SEAMEC Limited and is its Promoter. The company has stated that the transaction was conducted on an arm's length basis and in the normal course of business.
The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and specifically under Clause 5 of Para B of Part A of Schedule III, read with the SEBI Circular dated January 30, 2026. This event follows previous communications to the exchanges referenced by letter numbers SEAMEC/BSE&NSE/SMO/NOASAMUDRAPRABHA/2703/2026 (dated 27th March 2026) and SEAMEC/BSE&NSE/SMO/CONTRACTSAMUDRAPRABHA/0106/2026 (dated 1st July 2026) concerning the SAMUDRA PRABHA vessel.
The time of the event's occurrence was 13:53 hours on July 23, 2026.
Additional Disclosures:
The annexure to the filing confirms that the agreement does not involve special rights like appointing directors, share subscription rights, or restricting changes to capital structure. It is not a loan agreement or share issuance. There are no disclosures related to nominees on the board or potential conflicts of interest. The agreement is not an amendment or termination of a previous contract.