Argeo ASA completed the TotalEnergies Venus project on March 14, 2025, following a USD 39 million contract. The work involved collecting extensive geophysical and geotechnical data from deep waters in Namibia. The project faced delays due to weather and operational issues, but it affirmed Argeo’s capabilities in delivering integrated subsea services.
Argeo ASA has announced the successful completion of the TotalEnergies Venus project in Namibia on March 14, 2025. This follows a contract awarded to Argeo, worth USD 39 million, announced on April 2, 2024. The Argeo Venture vessel is currently demobilizing in Walvis Bay, with full demobilization expected by March 23, 2025.
The Venture began operations in Namibia on May 20, 2024, after arriving from Norway. The project duration extended beyond initial estimates due to an unanticipated lengthy yard stay and unfavorable weather conditions. Over the project’s 10-month timeframe, the Venture delivered 7,000 line kilometers of AUV geophysical data and nearly 200 geotechnical samples from depths exceeding 3,000 meters.
This contract reflects Argeo’s capability in providing premier deep-water services, showcasing their expertise in integrated geophysical and geotechnical projects. The geotechnical data was efficiently processed onboard, enhancing project efficiency.
Argeo ASA is a comprehensive subsea service supplier operating in three main sectors: Oil & Gas, Marine Minerals, and Renewables. The company offers a unique package that combines vessels, autonomous underwater vehicles (AUVs), and advanced digital technologies for robust data collection and visualization, with a focus on reducing carbon footprint and enhancing efficiency. Founded in 2020, Argeo has positions in multiple cities globally and is listed on Euronext Oslo Børs under ticker ARGEO.
For more details, visit www.argeo.no or contact CEO Trond Figenschou Crantz.
The completion of the TotalEnergies Venus project signifies Argeo ASA’s successful execution of complex subsea tasks and showcases its growth as a leader in the deep-water service sector. With robust capabilities in geophysical and geotechnical project execution, Argeo continues to emphasize sustainability through its advanced technology and efficient operational strategies. The company’s global presence and commitment to reducing environmental impact further enhance its position in the market.
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