Norwegians Secure India Survey Projects

Norwegian marine geophysical companies Argeo and Shearwater GeoServices have each secured distinct survey contracts in the waters off India.

Argeo has been selected for a project valued at NOK 154 million (approximately $14.5 million) by the National Centre for Polar and Ocean Research in India. This project entails conducting an extensive survey close to the seabed and analyzing data to map and detail extensive sulphide deposits on the ocean floor within India's designated exploration zone in the Indian Ocean.

The vessel Argeo Searcher is scheduled to dock in Mauritius by mid-February to commence the data collection process, following a brief two-day halt for a crew exchange and to welcome onboard the client's representatives. The undertaking is anticipated to conclude by the end of May.

Shearwater GeoServices, another Norwegian entity, has been awarded a contract by India's Oil and Natural Gas Corporation (ONGC) for a comprehensive survey in the Cauvery Basin, situated along India's eastern shoreline.

This project, set to kick off in the early stages of 2024, aims to survey an expanse of 4,600 square kilometers in the Bay of Bengal, with the SW Empress designated for the survey execution.

In 2023, Argeo and Shearwater announced the formation of a strategic alliance focusing on subsea and ocean bottom node (OBN) seismic services. As an integral component of this collaboration, Argeo acquired the seismic vessel SW Bell from Shearwater for a deal comprising $6 million in cash and approximately 20.1 million shares.