SEAMEC Wins $26.14M ONGC Subsea Installation Contract

Core Announcement – Order Details

Awarding Entity: M/s. Larsen and Toubro Limited (L&T Energy Hydrocarbon Div)

Domestic/International Order: Domestic

Nature of Order/Contract: Subsea installation works associated with pipeline replacement project PRP-X of ONGC. The work is awarded to the Consortium of SEAMEC Limited and Posh India Offshore Private Limited.

Order Value: USD 26.14 million exclusive of GST for SEAMEC's Scope of Work. The contract is lumpsum.

Materiality Context: Described as occurring in the "normal course of business."

Execution Timeline: The work must be completed by May 2027.

Revenue Recognition / Billing Structure: Not Specified

Key Terms & Payment Milestones: Not Specified

Whether Related Party Transaction: No. The contract does not fall within related party transactions.

Promoter Group Involvement: No. The Promoter/Promoter Group/Group Companies have no interest in the entity that has awarded the contract.

Financial Implication: Not Specified