Mumbai, Dec. 11 -- The vessel will be used for second season subsea installation and diving works in the part replacement pipeline project (PRP-VIII A) and DSF II project.

The lumpsum subcontract has a tenure of 150 days and is valued at approximately $16.72 million, exclusive of GST. The order was awarded by a domestic entity in the normal course of business, with no promoter interest in ONGC.

The contract does not fall under related party transactions.

Seamec operates in two distinct verticals of the shipping business - offshore support vessels & services and bulk carrier charter business. The company owns six vessels and one barge in the offshore support business wherein the vessels are deployed in the domestic and international mar...