Key Highlights
- SEAMEC entered into a BIMCO Charter Party Agreement with G R Infraprojects Limited.
- The agreement covers charter hire of the SEAMEC II vessel for subsea installation works.
- The vessel will be deployed for ONGC’s PRP-8A and DSF 2 projects.
- The charter tenure is 180 days with an option for extension on mutually agreed terms.
- The charter is scheduled to commence between October 15 and October 31, 2026.
- The total agreement value is approximately USD 19.02 million excluding GST.
- The transaction is not a related-party transaction.
- SEAMEC stated that the counterparty is not related to its promoter or promoter group.
SEAMEC Limited has entered into a BIMCO Charter Party Agreement with G R Infraprojects Limited for the charter hire of its vessel “SEAMEC II” for subsea installation works related to Oil and Natural Gas Corporation Limited (ONGC) projects.
Under the agreement, SEAMEC will deploy the vessel for subsea installation activities under the Pipeline Replacement Project (PRP-8A) and DSF 2 Project of ONGC.
The charter agreement has a tenure of 180 days, with an option for extension based on mutually agreed terms between the parties. The charter is scheduled to commence within the window from October 15, 2026, to October 31, 2026.
Charter Agreement Value
The total value of the charter party agreement is approximately USD 19.02 million, excluding GST. The agreement covers the deployment of the SEAMEC II vessel for the specified subsea installation works.
SEAMEC disclosed that G R Infraprojects Limited is the counterparty to the agreement. The company also stated that the transaction does not involve any shareholding arrangement with the counterparty.
According to the disclosure, the parties are not related to the promoter or promoter group, and the transaction does not fall under related-party transactions.
SEAMEC II Deployment for ONGC Projects
The vessel will be deployed for subsea installation activities associated with ONGC’s PRP-8A and DSF 2 projects. The agreement provides for a 180-day charter period, subject to a possible extension if mutually agreed by the parties.
