Argeo Inks Five-Year Bareboat Contract For 2001-Built Vessel

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For the Argeo Searcher, Argeo has agreed to a five-year bareboat lease with the option to purchase the boat for $2 million after the first year and $1 million after the second as reported by Offshore Energy.

Argeo Searcher

Formerly known as Ocean Pearl, Argeo Searcher will conduct business in the energy markets of North and South America (NSA), West Africa (WA), and the Pacific and North Atlantic oceans.

The management of ships and maritime crews will be handled by OSM Maritime, which has been in charge of Argeo Searcher since 2006.

The ship is outfitted with Argeo’s SeaRaptor AUVs and will be ready with a hangar for many work-class remotely operated vehicle (WROV) systems to assist IMR activities. It can deploy and operate one or more AUV systems.

International growth 

The contract sizes now available for Argeo with the vessel/AUV configuration typically range from NOK 150 million to NOK 300 million, according to the business, and are supported by the upcoming tenders.

The warship should arrive on December 10 at the latest.

“This arrangement secures Argeo with important vessel capacity at a very low price in a tighter market, so we are glad to enter into it.” According to Argeo CEO Trond F. Crantz, “the company’s international growth has resulted in contracts that are substantially larger and longer in term. This calls for predictability throughout our operational value chain.”

“Having access to a vessel like the Argeo Searcher enables us to meet all customer needs for Argeo’s activities, adds far more flexibility and streamlines our operations in the global offshore energy and marine mineral markets.”

New modifications

The 2001 delivery of the cable-laying vessel Argeo Searcher. It was completely transformed into an ocean bottom node (OBN) seismic vessel in 2006, and it is still in use as of January 2022.

The ship has now been docked for inspection and repair, and the agreement’s five-year full class renewal is now complete.

It has a 65-person capacity, contemporary diesel-electric power, and a helicopter deck with complete certification.

 

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Source: OffShore Energy

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