The year 2023 remained as a year of opportunity as well as uncertainty. The
geopolitical scenario primarily governed by war in Ukraine, had globally impacted the
prices of oil, trade and commerce. There has been a significant progress in reducing the
carbon emission from the natural gas production.
The Oil and Gas sector in India plays an important role as India's economic growth is
directly proportional to the energy demand. This requires adequate investment as
investment is also directly related to the economic subtleties. Under-investment can lead
to undermining the energy sector. India expects energy demand to increase to substantiate
robust economic growth.
For SEAMEC, in Offshore Subsea Shipping, we are the leading providers of Offshore
Oilfield Services. We own and operate five Diving Support Vessels and one Accommodation
Barge facilitating complex Subsea operations and acting as a critical support to the Oil
and Gas Sector.
During the year gone by, the Company has acquired a new DSV "SUBTECH
SWORDFISH". This adds to our fleet strengthening in DSVs.
The infrastructure is a total unrelated diversification, primarily aimed to have
presence in the diversified activity and also to de-risk the business. The Joint Venture
Company formed in this regard is on its maiden venture for the prestigious Tunnel project
in Vapi, Gujarat.
We remain confident and we would continue to cherish our vision and outlook for
Offshore Oil and Gas Industry. We take pride in having earned client trust and confidence.
We consistently provide solutions that work to improve our safety and prevent risk.
Our vision is to attain a more amplified global presence in sustainable Oil and Gas
support services in providing the Diving Support Vessel and execute infra projects and
become a diversified Conglomerate.
We act as Responsible Corporate Citizens and contribute to Corporate Social
Responsibility activities as per regulatory requirements.
I thank all our key stakeholders and all our employees for their dedicated support and
efforts.
Warm Regards,
Sanjeev Agrawal
Chairman