Next Geosolutions said its subsidiary Rana Subsea S.p.A. has signed a Letter of Intent with Saipem S.p.A. to provide “SAT diving” services in the Middle East. The operational phase is scheduled to start in Q2 2026, with a planned 36-month continuous campaign and three additional extension options of six months each. The agreement carries a base value of about $150 million.
In parallel with the LOI, the group is expanding its fleet through the acquisition of the offshore unit Siem Day (IMO 9660102) from Siem Day II AS for about $112 million. The vessel is classified as an Offshore Subsea Construction Vessel (OSCV) and will be renamed NG Supporter. The company said the unit will be deployed on the work associated with Saipem S.p.A., as well as other complex subsea activities, construction and installation support, and Inspection, Maintenance & Repair (IMR) work, mainly for the oil and gas market. Funding for the acquisition is expected to come from internal resources and a bank facility currently being defined.
Built in 2013, NG Supporter is equipped with DP2 capability and has an overall length of about 121 m and a beam of 22 m. The unit features a 1,300 m² deck area, a 250 t offshore crane with Active Heave Compensation, a 7.2 m × 7.2 m moonpool, a bow helideck, and accommodation for 110 people. The LOI also provides for a proprietary modular saturation system, a dedicated technical team, and advanced equipment, including options for a work-class ROV and a Hyperbaric Reception Facility.
Next Geosolutions said the LOI supports revenue visibility over the next 3–5 years and strengthens an established industrial relationship with Saipem S.p.A.
