Argeo ASA: Commercial terms accepted for four-year contract in South America

31 Mar 2025 16:30 CEST

Asker, 31.03.2025 Reference is made to the stock exchange release from Argeo ASA
published on 24 January 2025 announcing “Argeo in first position after a tender
competition for ROV & AUV Support Vessel (RSV) contract for a total of four
years in South America”

Argeo has concluded final commercial negotiations with the prospective client,
who subsequently has confirmed acceptance of Argeo’s commercial proposal. This
marks a key milestone in the contract finalisation process.

The procurement process going forward
In large-scale tender processes within the oil and gas industry, particularly
for long-term contracts in the subsea services segment, such processes take time
to complete. This is normal. This is often due to comprehensive technical and
commercial evaluations, internal approval and legal procedures, in addition to
coordination across multiple departments and stakeholders both on client and
contractor side. Argeo are in close dialogue with the client and observes that
the process is progressing well. Argeo will provide updates to the market
throughout the remaining stages of the process.

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

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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