Next Geosolutions, through its subsidiary Rana Subsea, has signed a letter of intent with Saipem for the provision of saturation diving services in the Middle East. The agreement is worth approximately $150 million and has a planned duration of 36 months.
Operations are scheduled to begin in the second quarter of 2026. The contract includes three additional six-month extension options and establishes a dedicated deployment for a new vessel.
In parallel, Next Geosolutions noted it is expanding its fleet with the acquisition of the Siem Day from the Norwegian company Siem Day II. The vessel will be renamed NG Supporter and was purchased for approximately $112 million.
The unit is a specialised offshore subsea construction vessel built in 2013. Next Geosolutions stated it will be used for complex subsea operations, construction and installation support, and inspection, maintenance, and repair services.
NG Supporter is equipped with a DP2 dynamic positioning system and measures approximately 121 metres in length with a 22-metre beam. It features a 1,300-square-metre deck area and a 250-tonne offshore crane with an active heave compensation system.
The vessel also includes a 7.2 by 7.2-metre moonpool, a bow helideck, and accommodation for 110 people. The investment will be financed through a combination of equity and bank financing.
The agreement with Saipem includes the use of a proprietary modular saturation diving system and a qualified technical team. It also provides options for work class remotely operated vehicles and a hyperbaric reception facility.
