Next Geosolutions (NextGeo), through its subsidiary Rana Subsea, has signed a letter of intent (LOI) with Italy’s Saipem to execute SAT diving services in the Middle East. With an approximate value of $150 million and an initial duration of 36 months, the agreement establishes an exclusive deployment of high-tech assets and positions NextGeo as a key player in a market with high demand for complex subsea services.
Operations are scheduled to commence in the second quarter of 2026. The contract includes three optional extensions of six months each, which could extend the collaboration for up to five years, generating significant financial visibility for the group.
A strategic asset for execution
As part of the operational strategy linked to the contract, NextGeo announced the acquisition of the offshore vessel “Siem Day”, which will be renamed “NG Supporter”. With an investment of US$112 million, this unit has been equipped for subsea interventions of high complexity, including inspection, maintenance, repair (IMR) and construction operations in the deep sea environment.
The NG Supporter is 121 meters long, has a helipad, a 250-ton crane with active compensation and the capacity to accommodate up to 110 people. It is classified as a subsea construction vessel and has a DP2 system, which gives it precise maneuverability in demanding conditions.
SAT Diving in the Middle East
The LOI includes the use of a modular saturation diving system developed by NextGeo, as well as equipment for ROV EQUIPMENT equipment and a hyperbaric receiver unit (HRF). This technological deployment places the company within a segment with high barriers to entry, consolidating its role as a strategic supplier in the offshore sector.
The acquisition of the NG Supporter is part of a comprehensive plan to strengthen the Group’s specialized fleet, against a backdrop of growing demand from major energy operators in the Gulf and other key regions.
Partnership with Saipem and international expansion
The agreement reaffirms the relationship between NextGeo and Saipem, allowing it to expand its operational presence in the Middle East, a region that concentrates significant investments in subsea infrastructure. The collaboration also enhances the integration between NextGeo and Rana Subsea, which since joining the Group has multiplied its capacity to execute large-scale contracts.
With more than 550 professionals and a fleet of DP2 vesselsfleet, NextGeo reinforces its commitment to sustainable growth, combining technology, human capital and intelligent investment to compete in the most demanding environments of the offshore industry.
Source: NextGeo
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