Norway-headquartered marine geoscience and technology company Shearwater GeoServices has placed an order with compatriot Argus Remote Systems for the delivery of two XL work-class remotely operated vehicles (WROVs) for deepwater operations.
Under the contract, Argus Remote Systems will deliver two Argus Worker XL WROV and TMS systems, configured for deepwater operations and rated to a depth of 4,000 meters.
According to the company, the Argus Worker XL is designed for high-speed subsea missions, with its system architecture allowing for flexible integration of sensors.
“We are proud to have secured this contract following a comprehensive comparison with international competitors. We value the trust placed in us by Shearwater and look forward to continuing our collaboration,” said Frode Korneliussen , CEO of Argus Remote Systems.
The order follows Argus’ sale and purchase agreement (SPA) for four WROVs with Thailand-headquartered subsea and offshore drilling services company Mermaid Maritime Public Company Limited.
The total consideration for the acquisition, described as being on normal commercial terms, is approximately €11 million, to be paid in stages and funded through Mermaid’s cash reserves and credit facilities.
Delivery is scheduled for the third quarter of this year.