Argeo has received confirmation of a NOK 154 million contract award from NCPOR to conduct near-seabed AUV survey and exploration works. Argeo will conduct survey and exploration works to delineate locations of seafloor massive sulphide deposits over India's International Seabed Authority (ISA) exploration licenses in the Indian Ocean. The contract value is NOK 154 million and commencement is planned for January 2024 with a total duration of 4-months including transit.

The exploration area is situated along the southern segment of the Central Indian Ridge (CIR) and the eastern segment of the Southwest Indian Ridge (SWIR), about 570 nautical miles southeast of Mauritius where the government of India holds a contract area consisting of 100 contract blocks worth 10,000 square kilometres. A total of 15 Areas of Interest are spread across five different Clusters of the ISA contract blocks.