NextGeo set for controlling stake in RANA Subsea

Next Geosolutions Europe has signed an agreement to acquire 75.4% of the share capital of Italian geophysical and subsea services contractor RANA Subsea.

RANA Subsea, formed in 1964 in Marina di Ravenna, eastern Italy, is said to have pioneered saturation diving offshore Italy during the 1970s, and it went on to operate more widely, mostly in the Mediterranean region and offshore West Africa.

It currently employs a team of about 90 staff including more than 30 engineers, offering engineering and project management services, subsea installation, and IMR and decommissioning for offshore energy infrastructure.

Outside Italy, the company has subsidiaries in Congo, Libya and Equatorial Guinea. Via its subsidiary Rana Works BV, it also has an operational base in the Netherlands.

Clients include TotalEnergies, Eni, bp, Chevron, ConocoPhillips, Energean, Trident Energy and engineering groups such as Saipem, SBM Offshore, Prysmian, Jan De Nul, Deme, Ørsted and Eiffage.

NextGeo said the acquisition of RANA was part of its strategy of strengthening its position in marine geosciences and subsea operations, broadening the scope of activities and services it offers and the geographical areas that it covers.