Argeo ASA: New contracts signed for Argeo Searcher and Argeo Venture in South America and Africa

28 Mar 2025 11:10 CET

Asker, 28.03.2025 Argeo ASA has secured contract work for both the vessels Argeo
Venture and Argeo Searcher in their respective areas of operation. This
strengthens Argeo’s backlog and operational activity across key offshore
regions.

Both projects reflect the continued confidence in Argeo’s unique combination of
integrated vessels, advanced AUV and sensor technologies, and in-house expertise
delivered by our experienced crews.

Argeo Searcher
Argeo Searcher continues on new contracted AUV survey work in South America for
O&G development in the region. The project will commence immediately and is
expected to be completed early May 2025. The awarded work for Searcher is
defined Considerable (1) and is a day rate contract with options to extend time
and work scopes.

Argeo Venture
Argeo Venture continues on new contracted AUV survey work in Africa for O&G
development in the region. The project will commence immediately and is expected
to be completed late May 2025. The awarded work for Venture is defined
Considerable (1) and is a day rate contract with options to extend time and work
scopes.

(1) Argeo definition of contract size:
• Major contract as being USD $30 million and above
• Large contract as being between USD $10 million and USD $30 million
• Substantial contract as being between USD $5 million and USD $10 million
• Considerable contract as being up to USD $5 million

“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,” says Trond F. Crantz,
CEO of Argeo. “This reinforces the strength of our agile operating model and our
ability to support clients wherever they operate.”

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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Odd Erik Rudshaug, CFO at Argeo ASA, on 28 March
2025 at 11:10 CEST.

About Argeo ASA
Argeo is a comprehensive subsea service provider, operating across three major
sectors: Oil & Gas, Marine Minerals, and Renewables. The Company offers a unique
package that integrates robust vessels, state-of-the-art autonomous underwater
vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive
digital platform designed to collect and visualize complex data. 

With their own vessels and high-performance AUVs, Argeo delivers fast and
flexible full-lifecycle services, including survey, inspection, maintenance, and
repair, aimed at improving efficiency and reducing the carbon footprint for
global, industry-leading clients. 

Founded in 2020, Argeo has established offices in Asker (Oslo), Edinburgh,
Houston, and Rio de Janeiro. 

The Company is listed on Euronext Oslo Børs under the ticker: ARGEO. Please
visit www.argeo.no for more information.

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