Argeo awarded NOK 37 million deep-sea survey contract with Norwegian Petroleum Directorate

20 Apr 2023 08:39 CEST

Asker, 20.04.2023: Offshore service company Argeo has been awarded a deep-sea
survey contract comprising of multi-sensor data acquisition with AUV for the
Norwegian Petroleum Directorate (NPD) to further evaluate mineral resource
potential in the northern part of the Mid-Atlantic Ridge (Knipovich Ridge).

The acquisition project, with a contract value of NOK 37 million, has a duration
of 8 weeks in total, including mobilization and demobilization, and is scheduled
to be performed during the summer season of 2023.

During the project Argeo is to conduct high-resolution near-seafloor
geophysical- and environmental data acquisition for deep-sea minerals
exploration in the 500-kilometre long Knipovich Ridge. To meet NPD’s needs,
Argeo will mobilize its two high-specification ultra-deep water SeaRaptor AUVs,
and their subsea vessel Argeo Searcher.

Argeo’s fleet of AUV’s are equipped with state-of-the-art sensors, including
integrated Electro-Magnetic sensor technology, Argeo Listen and Argeo Whisper
delivering valuable high-quality data, from environmental impact assessment and
early exploration to resource assessment and extraction monitoring.

– Advanced sensor technology delivering actionable data is key for enabling the
development of the emerging marine minerals industry. Argeo offer the
technology, software, and industry expertise to meet this market, says Argeo CEO
Trond Crantz.

Argeo’s marine minerals solution has been developed to deliver high-quality
pelagic, benthic, and subsurface data that are key in addressing the challenges
of remoteness and scale, complex geological settings, as well as environmental
sensitivity associated with deep-sea mineral deposits.

Argeo currently has four high specification AUV’s. The AUV is modular and very
mobile with supporting systems which can be strategically placed in Argeo’s main
Geomarkets for rapid deployment serving our global customers with
state-of-the-art technology and data. All data collected is processed onboard
the AUV using onboard-postprocessing and mosaicking software to allow quick
turnaround during missions and improved decision making for the customer.

The AUV enable deep-sea surveys to the benefit of marine industries including
Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals.

Read more about Argeo Searcher here: https://argeo.no/argeo-searcher/

Read more about SeaRaptor AUV here: https://argeo.no/searaptor-6000/


For more information, please contact:
Trond Figenschou Crantz, CEO
Email: trond.crantz@argeo.no
Phone: +47 976 37 273

About Argeo
Argeo is an Offshore Service company with a mission to transform the ocean
surveying and inspection industry by utilizing autonomous surface and underwater
robotics solutions. Equipped with unique sensors and advanced digital imaging
technology, the Autonomous Underwater Vehicles (AUV’s) will significantly
increase efficiency and imaging quality in addition to contributing to
significant reduction in CO2 emissions from operations for the global industry
in which the Company operates.

The Company’s highly accurate digital models and digital twin solutions are
based on geophysical, hydrographic, and geological methods from shallow waters
to the deepest oceans for the market segments Oil & Gas, Renewables, Marine
Minerals and Offshore Installations. Argeo was established in 2017 and has
offices in Asker (Oslo), Tromsø, Stockholm, Houston, and Singapore. Since its
incorporation, Argeo has carried out complex projects for some of Norway’s
largest companies in the field.

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.

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