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Argeo signs agreement in Brazil

Argeo signs agreement with undisclosed customer for AUV work in Brazil

Argeo

subsea environment with templates and auv robotsAsker, 16.12.202:

With reference to the notice issued on the 10th of November 2021, Argeo confirms that an agreement comprising of AUV (Autonomous Underwater Vehicles) work for an undisclosed customer in Brazilian O&G sector has been signed.

The project is scheduled to commence early Q1 2022 with possibility for extensions. Argeo sees this as a potential start of a broader campaign in the Brazilian deep-water market. The contract is in line with Argeo´s targets for margins.

– We are pleased to announce this project as it is a breakthrough agreement opening a new geographical market in line with our growth strategies, says Argeo CEO, Trond Crantz. With the current strong gas and oil markets the demand for AUV’s in the deep-water market in Brazil, is similarly strong.

– This is just the beginning of establishing Argeo in the region and we are in discussions regarding potential follow-on projects extending project delivery for several customers into early Q2, says Crantz.

Argeo currently has three high specification AUV’s. The AUV is modular and very mobile with supporting systems which can be strategically placed in Argeo’s main Geomarkets for rapid deployment serving our global customers with state-of-the-art technology and data. All data collected is processed onboard the AUV using onboard-postprocessing and mosaicking software to allow quick turnaround during missions and improved decision making for the customer.

The AUV enable deep-sea surveys to the benefit of marine industries including Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals.

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