General – SAT Diving
NexGeo has signed a Letter of Intent with Saipem for the provision of SAT diving services in the Middle East.
The start of the operational phase is scheduled for Q2 2026, with a duration of 36 consecutive months, plus three additional extension options of six months each. The agreement has a total base value of approximately USD 150 million.
At the same time, Next Geo has announced the addition of a new offshore vessel to its fleet through the acquisition of the Siem Day from the Norwegian company Siem, for a total purchase price of approximately USD 112 million.
The vessel, classified as an Offshore Subsea Construction Vessel (OSCV) and to be renamed NG Supporter, will be deployed for the Saipem contract and for other complex Subsea Operations, Construction and Installation Support works, as well as Inspection, Maintenance & Repair (IMR) activities, mainly in the oil & Ggs market.
