Argeo ASA completed the Venus project for TotalEnergies on March 14, 2025, following a USD 39 million contract. The Venture vessel demobilized in Walvis Bay, completing ten months of operations. The project yielded over 7,000 kilometers of data and underscored Argeo’s capacity for integrated deep-water services across sectors including Oil & Gas and Renewables.
Argeo ASA has announced the successful completion of the TotalEnergies Venus project in Namibia, which occurred on March 14, 2025. This follows a previously published stock exchange announcement on April 2, 2024, indicating a USD 39 million contract with TotalEnergies. Argeo’s Venture vessel, currently demobilizing in Walvis Bay and expected to conclude on March 23, started operations on May 20, 2024, after traveling from Norway.
The project experienced delays due to an unexpectedly prolonged yard stay and unfavorable weather conditions. Over the course of approximately 10 months, the Venture successfully collected over 7,000-line kilometers of AUV geophysical data and nearly 200 geotechnical samples from depths exceeding 3,000 meters. The completion showcases Argeo’s capacity to provide premier deep-water services and highlights the effective integration of geophysical and geotechnical project execution based on processed data.
Argeo ASA operates as a leading subsea service provider in three significant sectors: Oil & Gas, Marine Minerals, and Renewables. The company combines advanced vessels, autonomous underwater vehicles (AUVs), and cutting-edge sensors with a digital platform aimed at collecting and visualizing complex data efficiently. Founded in 2020, Argeo has established global offices in major cities, including Asker (Oslo), Edinburgh, Houston, and Rio de Janeiro. The company is listed on the Euronext Oslo Børs under ticker ARGEO.
In summary, Argeo ASA has successfully completed the Venus project for TotalEnergies, demonstrating its capabilities in delivering integrated geophysical and geotechnical services. The project, which took longer than anticipated, yielded substantial data and samples, reinforcing Argeo’s position in the subsea service sector while enhancing efficiency and reducing environmental impact for its clients. The company’s innovative approach continues to define its success in various market sectors.
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