Norwegian subsea services provider Argeo has signed new contracts that will deploy its two vessels offshore South America and Africa for oil and gas projects. Under these contracts, Argeo Searcher will perform autonomous underwater vehicle (AUV) survey work in South America, while Argeo Venture will conduct AUV survey work in Africa, both focusing on oil and gas developments in their respective regions.
Both vessels are set to commence work immediately, with activities expected to be completed by early May for Argeo Searcher and late May for Argeo Venture. The contracts are classified as “considerable,” which according to Argeo means they are worth up to $5 million. These are day rate contracts with options to extend both time and work scopes.
Trond F. Crantz, CEO of Argeo, emphasized the strategic importance of these deployments: “Being present in the right locations at the right time is a key part of our strategy. Our presence in these key geomarkets enabled us to mobilize quickly and deliver value to the client with minimal lead time. This reinforces the strength of our agile operating model and our ability to support clients wherever they operate.”
It’s worth noting that in mid-March, Argeo reported that Argeo Venture had completed its work at TotalEnergies’ Venus project in Namibia’s Orange Basin under a $39 million contract announced in April 2024. The vessel began that work in May 2024 after transiting from Norway where it underwent a conversion upgrade. As for Argeo Searcher, the vessel was previously tasked with carrying out the first phase of multi-client data acquisition in Suriname as part of Argeo’s eight-year agreement with Suriname’s oil and gas regulator and state oil company Staatsolie.
Source: offshore-energy.biz