Argeo AS

M&A Activity • Mar 31, 2025

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

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

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.