HAL Offshore to demerge Marine, EPC and other ancillary business into Seamec Limited

HAL Offshore to demerge Marine, EPC and other ancillary business into Seamec Limited

The Board of Directors of SEAMEC Ltd in its meeting held on March 28, 2022 has considered and approved, the draft scheme of arrangement for de-merger of Marine, EPC and other ancillary business of HAL Offshore Limited (HAL) into Seamec Limited.

The Demerged Company / HAL Offshore is a leading 'End to End' Solution Provider of Underwater Services and EPC Services to the Indian Oil and Gas Industry. The Company is also engaged in Charter Hire of Diving Support Vessels (DSV) to the Mumbai High area undertaking diving, firefighting, material support, accommodation, crane, helipad, operation and maintenance of ONGC Vessels, painting of offshore platforms and other ancillary activities. Over the years, HAL Offshore has developed a diversified portfolio for undertaking turnkey projects involving sub-sea and marine services. Further, the Company is also a leading Indian EPC (Engineering, Procurement and Construction) Company, primarily serving the Oil and Gas Sector. For over a decade, HAL Offshore has executed Greenfield and Brownfield Projects for ONGC Ltd and Oil India Ltd.