Argeo expands with five-year bareboat charter deal

Norwegian surveyor Argeo has signed a five-year bareboat contract for the vessel Argeo Searcher, with a purchase option attached.

The vessel should be delivered in December this year and operate in the North and South America and West Africa energy markets as well as the Pacific Ocean and North Atlantic for marine minerals markets.

The company said it can buy the 2001-built vessel, formerly known as Ocean Pearl, for $2m after 12 months and $1m after 27 months. 

“The international expansion of Argeo means contracts are significantly larger, with longer duration and therefore requires predictability in 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,” remarked Argeo CEO, Trond F. Crantz. 

The vessel was initially a cable layer and later, in 2006, was fully converted to an OBN (ocean bottom node) seismic vessel and has been in operation until January 2022. The vessel has since been docked for inspection and maintenance in early 2022, completing full class renewal for the period of the agreement.

OSM Maritime has been selected for ship and maritime crew management. “OSM Offshore have managed Argeo Searcher since 2006 and know the vessel, and its history exceptionally well,” Argeo said.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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