Argeo has signed a contract with Woodside Energy for Calypso AUV survey

Apr 17, 2024 | News

Argeo is pleased to announce having signed a contract with Woodside Energy to execute the 2024 AUV geophysical survey for the deepwater Calypso field in Trinidad and Tobago.


The work will be carried out by Argeo Searcher with commencement in Q3 2024 and the project will occupy the vessel for approximately 60 days, not including any additional work. The Calypso field is located approximately 225 km off the East coast of Trinidad in ~2,100m water depth.

“This contract ignites our Caribbean and South American campaign to provide top-tier deep-water services within the North and South Americas (NSA) geomarket” states Argeo CEO, Trond Figenschou Crantz.

“This is an important and significant award for Argeo, and we very much look forward to demonstrating our capabilities and expertise to Woodside on this project” states Argeo VP NSA, Dave Gentle.

Fourth-quarter and unaudited full-year 2024 results

Fourth-quarter and unaudited full-year 2024 results

Revenue for Q4 amounted to USD 5.4 million, marking an increase of 440% year-over-year (YoY). EBITDA amounted to USD -5.7 million, alongside an EBIT of USD -7.9 million. Net profit for the quarter was USD -8.5 million, improving from USD -9.4 million in Q4 2023....