Argeo ASA Announces Completion of TotalEnergies Venus Project in Namibia
Argeo ASA announced the completion of the TotalEnergies Venus project in Namibia on March 14, 2025. This project involved nearly 10 months of operations, producing over 7000 km of AUV geophysical data and close to 200 geotechnical samples. Argeo’s capabilities in deep-water services have been reaffirmed through this achievement, despite challenges faced during the project’s duration.
Argeo ASA has successfully completed the TotalEnergies Venus project in Namibia on March 14, 2025. This announcement follows the company’s previous update on April 2, 2024, regarding a USD 39 million contract with TotalEnergies. Currently, Argeo Venture is in the process of demobilizing in Walvis Bay, with completion scheduled for March 23, 2025.
The Venture started its operations in Namibia on May 20, 2024, after transitioning from Norway. The project duration extended beyond initial estimates due to an unexpectedly prolonged yard-stay and adverse weather conditions. Over the course of nearly 10 months, the Venture has successfully collected over 7000-line kilometers of Autonomous Underwater Vehicle (AUV) geophysical data and nearly 200 geotechnical samples at depths exceeding 3000 meters.
The completion of this contract underscores Argeo’s expertise in delivering premium deep-water services, demonstrating its capability to undertake integrated geophysical and geotechnical projects. The geotechnical data was effectively sourced from geophysical data that was processed onboard the vessel efficiently.
Argeo ASA has marked a significant milestone with the successful completion of the TotalEnergies Venus project in Namibia, showcasing its dedication to providing high-quality deep-water services. This achievement not only highlights Argeo’s operational capacity but also emphasizes its commitment to integrating geophysical and geotechnical services. The successful delivery of extensive data and samples under challenging conditions further establishes Argeo as a key player in the subsea service market.
Original Source: www.tradingview.com
