NextGeo continues its expansion spree with purchase of another vessel

As part of its growth and expansion plans aimed at strengthening the fleet and meeting increasing demand in the offshore sector, Italy-headquartered Next Geosolutions (NextGeo) has acquired another vessel, to be used for survey activities.

NextGeo has completed the acquisition of the vessel Deep Helder from the Dutch company SeaMar Subsea, which has been renamed to NG Surveyor. The vessel will be utilized for geophysical, geotechnical, environmental, and unexploded ordnance (UXO) survey activities.

Built in 2014 in the Netherlands, NG Surveyor is 64.8 meters long and 15.8 meters wide, features a 500m² deck space and a DP2 system, and can accommodate up to 48 personnel.

Following the delivery, NextGeo will undertake refitting work to install high-specification equipment, including three multibeam echosounders (MBS), a sub-bottom profiler (SBP), and an acoustic positioning system (USBL), enabling the vessel to conduct high-resolution surveys in shallow-to-mid waters and depths classified as “full ocean depth”, of up to 11,000 meters.

The total investment for the acquisition amounts to €21 million, in addition to approximately €4 million for the purchase and installation of equipment.

Giovanni Ranieri, CEO of NextGeo, stated: “The completion of this acquisition, announced during our IPO, is part of our growth and development strategy outlined at the time of listing. It allows us to enhance both our fleet and our survey service offerings. With the purchase of this new multipurpose vessel, we further solidify our position as a leading company in the sector, particularly considering the increasing number of projects and business opportunities both nationally and internationally.”

As part of the transaction, a total of €12 million was financed by Cassa Depositi e Prestiti (CDP) and Credito Emiliano (Credem). Specifically, Credem provided €6 million with a ten-year repayment term, while CDP made an additional €6 million available to the company, with an eight-year repayment term.

At the end of 2024, NextGeo announced it had purchased the vessel Sea Admiral from the Norwegian company Beitveit Holding, renamed to NG Explorer, also set to be deployed for geophysical, geotechnical, environmental and UXO survey activities.