Newsletter
Seamec has awarded a $3.25 million contract to Adsun Offshore Diving Contractors for providing diving services on the vessel Seamec III. The stock gained around 1% on the back of this news.
SEAMEC is a company that uses specialised ships with trained divers and equipment to carry out underwater jobs like inspecting pipelines & helping build new facilities at sea. Whereas, Adsun Offshore provides underwater and marine services for the oil & gas, ports, and energy sectors.
The deets: the deal covers a set of repair and replacement jobs for ONGC’s offshore pipelines. This includes inspecting old pipelines, removing damaged sections, and installing new parts and support structures to keep them safe and working properly.
Why this matters: the deal is about keeping India’s energy system running smoothly. The work supports ONGC’s offshore pipelines, which carry oil and gas that power homes, industries and transport across the country. When these pipelines are maintained well, it reduces the risk of leaks, disruptions and costly shutdowns.
