Rana Subsea, the company acquired by NextGeo, has signed a letter of intent with Saipem for the provision of saturation diving services in the Middle East region. The start of operations is scheduled for the second quarter of 2026, with a continuous duration of 36 months and three additional six-month extension options. The agreement has a total base value of approximately $150m. At the same time, Next Geosolutions added a new offshore vessel to its fleet, through the acquisition of the 2013-built OSCV Siem Day for $112m. The vessel, to be renamed NG Supporter, will be deployed for the execution of the contract with Saipem as well as for other complex subsea operations, construction, and installation support activities, as well as IMR services, primarily within the oil and gas market. The DP2 vessel has an overall length of approximately 121 m and a beam of 22 m. It has a deck area of 1,300 sq m, a 250-tonne offshore crane with an active heave compensation system and can provide accommodation for 110 people on board. The investment for the vessel’s acquisition will be financed through a combination of equity and bank financing. “The addition of this new asset provides added value to support the growth and diversification of our activities in our target markets, further expanding our capabilities in the highly complex subsea segment and enabling us to respond even more effectively to the needs of clients and to current and future international projects,” said Attilio Ievoli, chairman of NextGeo. In addition to establishing the dedicated deployment of the NG Supporter, Rana’s deal with Saipem also includes the use of a saturation diving system, including options for work-class ROVs and a hyperbaric reception facility. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsItaly