SEAMEC Vessel Subcontract Analyzed
SEAMEC, a specialized vessel operation company, has signed a major agreement to provide its vessel, the SEAMEC III, to G R Infraprojects. This work focuses on complex underwater tasks, specifically for the Part Replacement Pipeline Project (PRP-VIII A) and the DSF II Project managed by Oil and Natural Gas Corporation (ONGC). The agreement is a ‘lumpsum’ basis, meaning the price is fixed regardless of the actual time taken to complete the work.
Key Points
- SEAMEC secures contract for vessel deployment with G R Infraprojects.
- Works include underwater installation, diving, and pipeline maintenance projects.
- ONGC’s DSF II Project and PRP-VIII A projects are involved.
- Contract duration is 150 days, a crucial operational timeframe.
- Total contract value: $16.72 million, before applicable taxes.
- ‘Lumpsum’ pricing provides cost certainty for the client.
Project Details
The specific projects SEAMEC is supporting are the Part Replacement Pipeline Project (PRP-VIII A) and the DSF II Project, both overseen by the Oil and Natural Gas Corporation (ONGC). These projects require highly skilled underwater work, including installing new sections of pipeline and repairing existing ones. This collaboration highlights SEAMEC’s expertise in providing reliable vessel support for these demanding energy infrastructure developments.
Contract Terms
The contract runs for 150 days, giving SEAMEC and its team enough time to complete the necessary work efficiently. The contract’s value is approximately $16.72 million, but this figure doesn’t include Goods and Services Tax (GST). This arrangement allows G R Infraprojects to manage their project timeline and costs effectively.
This agreement represents a significant opportunity for SEAMEC to demonstrate its capabilities and secure vital contracts in the energy sector.
