Argeo ASA confirmed the successful completion of the TotalEnergies Venus project in Namibia on March 14, 2025. Despite delays due to yard stays and weather, the Venture vessel delivered significant geophysical data. Argeo demonstrates expertise in integrated geophysical and geotechnical services, solidifying their leadership in the subsea sector.
Argeo ASA has announced the successful completion of the TotalEnergies Venus project in Namibia as of March 14, 2025. This follows an earlier stock exchange announcement on April 2, 2024, which detailed a contract worth USD 39 million with TotalEnergies. Currently, Argeo’s vessel, the Venture, is in the process of demobilizing in Walvis Bay, with completion expected by March 23.
The Venture began its operations in Namibia on May 20, 2024, having traveled from Norway. The project duration exceeded initial estimates, primarily due to an extended yard stay and unfavorable weather conditions. During nearly 10 months of work, the Venture has successfully collected over 7,000 line kilometers of AUV geophysical data and approximately 200 geotechnical samples from depths surpassing 3,000 meters.
This contract and associated work program affirm Argeo’s proficiency in delivering premier deep-water services. It highlights the company’s capability to execute integrated geophysical and geotechnical projects efficiently, utilizing geophysical data to optimize the geotechnical analysis conducted on-site.
For additional inquiries, please reach out to Trond Figenschou Crantz, CEO, at [email protected] or by phone at +47 976 37 273.
Argeo ASA operates as a leading subsea service provider across three main sectors: Oil & Gas, Marine Minerals, and Renewables. The company offers a comprehensive solution comprising highly capable vessels, advanced autonomous underwater vehicles (AUVs), cutting-edge sensors, and a digital platform to collect and visualize complex data. Founded in 2020, Argeo has established offices in Asker (Oslo), Edinburgh, Houston, and Rio de Janeiro, and is publicly traded on Euronext Oslo Børs under the ticker ARGEO. More information can be found at www.argeo.no.
In conclusion, Argeo ASA has successfully completed the Venus project for TotalEnergies in Namibia, demonstrating their ability to handle extensive geophysical and geotechnical projects effectively. The company continues to showcase its leadership within the subsea service industry, prioritizing efficiency and sustainability. With robust operational capabilities and strategic international presence, Argeo is positioned for further growth in the subsea service market.
Original Source: www.tradingview.com
