Argeo Searcher Set to Sail to Indian Ocean after Shell’s Nigeria Task

Oslo-listed offshore service company Argeo has informed that its DP2 vessel Argeo Searcher completed the deepwater inspection services at Shell’s Bonga field, and is scheduled to set sail to Indian Ocean for a job with India’s National Centre for Polar and Ocean Research (NCPOR).

In a vessel schedule update, released on January 22, 2024, Argeo confirmed its current backlog includes close to $53 million (NOK 550 million), with a further sales and revenue potential of additional $19 million (NOK 200) million for Argeo Searcher vessel in the second half of 2024.

According to the company, Argeo Searcher completed the Shell job in Nigeria in record time and with high performance.

The Shell- SNEPCo contract covered deepwater inspection services in the Bonga field and its subsea assets, including pipelines, infrastructure, and flowline systems, as well as geophysical surveys of nearby areas.

The vessel exited Nigeria on January 20, and will move on to mobilize in the Indian Ocean to start the NCPOR project. Argeo said it expects the NCPOR project to be completed in late second quarter of 2024.

“We have several strong tender leads for Searcher in the second half of 2024 and see a further increase in backlog and revenues for the vessel,” the company said.

“In addition, Argeo Venture is finalizing reactivation task outside Bergen in Norway and will commence rigging our second Hugin Superior for an international oil company,” Argeo said in an update.

Argeo Venture will mobilize on the contract mid-March, and the work is expected to be completed in late fourth quarter of 2024, the company confirmed.