Argeo nets five-year site investigation agreement with TotalEnergies, extensions possible

Norway’s subsea services provider Argeo has entered into a five-year agreement, with potential for an additional two years, with France’s energy giant TotalEnergies for offshore site investigation services.

The two companies established a global framework agreement on legal terms and conditions (FALTC) which has a fixed five-year term, with two optional one-year extensions, allowing for a total duration of up to seven years.

According to Argeo, the agreement will take effect immediately and is designed to streamline and accelerate global procurement processes, enabling the company to respond quickly to project requirements and opportunities and deliver work on both short-term and long-term engagements.

The Norwegian company’s previous endeavor for TotalEnergies includes work in West Africa.

“This agreement marks a significant step forward in our partnership with TotalEnergies,” said Trond Crantz, CEO of Argeo. “It reflects a shared vision of agility and innovation that will enable us to seize opportunities swiftly and deliver exceptional value over the validity of the agreement.”

The deal follows the one Argeo entered into last month with Suriname’s oil and gas regulator and state oil company Staatsolie, for the acquisition, processing and sales of multi-client data in Suriname.

As part of the eight-year agreement, the first package and scope of work includes geophysical data acquisition with an autonomous underwater vehicle (AUV) and uncrewed surface vehicle (USV) in strategically selected areas.