Knowing where to look and having the knowledge, experience, and technology to do the work

Jan 11, 2024 | News

9th of January 2024 marks a historical milestone in both Norway’s and Argeo’s history; the Norwegian parliament voted for allowing exploration and extraction of deep-sea minerals in Norway. These resources are crucial, as the demand for important metals is increasing worldwide, and self-supply and geopolitical independence is more important than ever.

Data sample (Norwegian Offshore Directorate)

With the opening of the Norwegian Continental Shelf (NCS) for marine minerals exploration, Norway follows suit with an already ongoing commercial industry internationally. Argeo, as one of very few companies globally, has the complete set-up from acquisition to actionable data, with one of the most advanced systems, comprehensive fleet of vessels, technology, and perhaps most important experience from several marine mineral exploration projects. .

Argeo has several leading patents within the exploration technology space and has two full subsea capability vessels ready to embark, as well as a comprehensive and complementing AUV fleet.

Competence and capabilities include:

  • Exploration and prospect assessment
  • Environmental impact assessment
  • Environmental monitoring

Argeo is positioned for the entire value chain, ranging from preliminary surveys to exploration to extraction. The leading technology allows Argeo to have superior knowledge of which areas to explore and thus be both more effective and competitive.

>> More about Argeo’s Marine Minerals capabilities

 

The Norwegian continental shelf is home to large opportunities and a total investigation area of 592 500 km2 and a total applicable market size of 2-3 billion dollars.

 

 

Existing projects in the marine minerals space includes the Norwegian offshore directorate and the Polish Geological Institute, and now also NCPOR running India’s largest Marine Mineral exploration project to date. These projects was awarded to Argeo as a trusted partner to deliver valuable insights to each nations environmental and resource estimation. Argeo expects projects to now move faster and increase in both size and value.

 

 

Argeo delivers strong financial results in the first quarter

Argeo delivers strong financial results in the first quarter

Argeo achieved record growth in revenue, with an increase of 288% YoY to USD 9.5 million and an EBITDA of 2.9 million, an increase of +415% YoY. Net profit was USD 2.0 million, an increase of 238% YoY. The remaining backlog for 2024 now totals USD 54 million, whereas...