Argeo details $4.9 million contract win
Following the announcement in early October that it will be working for an “oil and gas supermajor”, Argeo has now revealed the client and remaining details.
Argeo announced on November 9 that it had signed a NOK 55 million (over $4.9 million) contract for the Bonga field subsea assets work program for Shell Nigerian Exploration and Product Company (SNEPCo) and local content partner GOSL.
The first work program comprises deepwater inspection services in the Bonga field and its subsea assets such as pipelines, infrastructure, and flowline systems, in addition to geophysical surveys of nearby areas.
The agreement includes an option for a contract extension with additional work scopes and values to be confirmed later. The project will commence this year.
The data acquired from this survey will be used to monitor the integrity of the subsea infrastructure and assess nearly 180 kilometers of various pipelines in the field. The primary data acquisition tools/payloads required include synthetic aperture sonar (SAS), sub-bottom profiler, Argeo LISTEN contactless cathodic protection measurements, pictures of specific locations and multi-beam bathymetry.
According to Argeo, additional scope of work and increasing contract value will be handled through change-work-orders (CWO) and reported successively if called off by the client. The extensions can comprise up to four to eight weeks of additional work in the area subject to Argeo-approved work assessment and availability.
“We are very satisfied to have been chosen by Shell / SNEPCo and GOSL for this significant project,” said Argeo CEO, Trond Crantz. “This contract not only affirms our capability to provide top-tier deep-water services but also highlights our strong presence within the industry.”