Fugro responds to reported participation in hydrocarbon activities referenced by Argentina

Fugro activities in the area in question were not related in any manner to hydrocarbon activity. Its work in the area was limited to seabed survey work for a subsea telecommunications cable project unrelated to hydrocarbon prospecting, exploration or production activities. Fugro is not participating in the Sea Lion project and will not participate in it, nor will Fugro participate in any other hydrocarbon project in that area. Fugro has already informed the Minister of Foreign Affairs, International Trade and Worship and the Argentine Embassy in the Kingdom of the Netherlands of this circumstance.

Fugro is committed to engaging constructively and transparently with the Argentine authorities, to demonstrate clearly that the work in question was unconnected with hydrocarbon activity, and that Fugro’s activities have been incorrectly associated with a hydrocarbon regulatory framework that does not reflect the nature of the work performed.

Fugro has previously operated in Argentina in support of critical infrastructure projects, always in compliance with the country's legal and regulatory framework and is committed to continue in that manner.