Summary:

On 11 November 2025, Next Geosolutions, an Italian offshore services firm, secured a $9.8 million contract with Saipem to support offshore survey and installation activities for the Bouri Gas Utilization Project (BGUP) off Libya’s coast.  

The agreement covers construction and survey operations for one of the largest regional offshore gas initiatives, aimed at increasing gas recovery and reducing flaring. 

The project will see NextGeo’s vessels, NG Worker and NG Surveyor, conduct Touch Down Monitoring with Work Class remotely operated vehicles and assist in pipeline installation during Saipem’s construction phases, beginning in Q4 2025, with possible contract extensions. 

Following its acquisition of Rana Subsea in September 2025, NextGeo also secured a $72.4 million contract covering subsea services, diving operations, and installation work for the same project through Q2 2026. CEO Giovanni Ranieri emphasized that the combined capabilities of NextGeo and Rana Subsea create a fully integrated service offering, positioning the group as a reliable partner for complex offshore developments. 

Outlook: 

The Bouri Gas Utilization Project will reinforce Libya’s position as a major offshore gas producer, enhancing recovery rates and reducing flaring while signaling the country’s capacity to manage large-scale energy infrastructure. 

The joint presence of NextGeo and Rana Subsea brings advanced technical expertise and operational efficiency, attracting further foreign investment and demonstrating Libya’s growing appeal to international energy partners.  

Beyond domestic impact, the project strengthens Libya’s role in regional gas supply chains and supports North African energy integration with European markets, highlighting the strategic value of the country’s offshore resources. 

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