Next Geosolutions Buys Offshore Survey Vessel for $7M
December 11, 2024
Marine geosciences and offshore construction support services firm Next Geosolutions has acquired a multi-purpose survey vessel (MPSV) from Beitveit Holding for $7.1 million.
The vessel, Sea Admiral, will be renamed NG EXPLORER, and will be used for geophysical, geotechnical, environmental and UXO surveys.
The NG EXPLORER, with a length of 58 meters and a width of 14 meters, is an MPSV built in 2010 and equipped with a Dynamic Positioning Class II (DP2) system and diesel-electric propulsion that will raise the Italian flag and be operational from the first quarter of 2025.
The ship will undergo refitting work, with an additional investment estimated of up to $5.2 million, in order to make it even more efficient and functional for the high-tech activities for which it is destined
“In light of the company's growth, the acquisition of this new vessel asset represents an important opportunity for the group and is part of our growth plans to expand our owned fleet with vessels carrying out specific activities pertaining to the NextGeo Group.
“The transaction is part of the growth and development strategy we declared during the IPO and allows us to expand our service offering in the market. With this acquisition, we bring the number of owned offshore vessels to four, including the already announced acquisition of the vessel Deep Helder, which will be finalized in January 2025, maintaining a healthy balance between our own and chartered fleet, confirming our asset-light business model,” said Giovanni Ranieri, CEO of NextGeo.
