Argeo announced signing of the contract over the Bonga field subsea assets work program for SNEPCo - Shell Nigerian Exploration and Product Company and local content partner GOSL. The contract has options to extend. The first work program comprises of deep-water inspection services over in the Bonga field and its subsea assets (pipelines, infrastructure, and flowline systems) in addition to geophysical surveys of nearby areas.

Today, nearly one-third of Nigeria's deep-water production comes from the Bonga and Erha fields. Shell Nigeria Exploration and Production Company Limited (SNEPCo, Shell interest 100%) pioneered deep-water oil and gas production from the Bonga field in the Gulf of Guinea where depths reach more than 1,000 metres. GOSL is an indigenous company incorporated in Nigeria where the most important aim is to provide local content support in the Nigerian Oil and Gas community by employing, promoting, and encouraging local content ingredients for projects.

Argeo will be deploying its recently acquired Hugin Superior AUV, along with their upgraded subsea vessel, the Argeo Searcher. Additionally, the agreement includes an option for contract extension with additional work scopes and values to be confirmed later. The project will commence in Fourth Quarter-2023.