The contract entails the deployment of two specialized vessels—the NG Worker and the NG Surveyor—to perform offshore Touch Down Monitoring operations using Work Class ROVs, and Construction Support services, including the delivery of project pipelines, during the installation phases carried out by Saipem. Operations are scheduled to start in Q4 2025 and will continue for several months, including optional extensions.
The BGUP represents one of the most relevant offshore initiatives in North Africa, aimed at valorizing the associated gas from the Bouri field, located off the Libyan coast. The project includes the installation of a new Gas Recovery Module, along with a series of upgrades and enhancements to the existing infrastructure.
With this award, NextGeo further strengthens its presence in the Oil&Gas sector, where it boasts a solid track record and consolidated expertise, following a period of intense growth in other strategic areas such as renewables and subsea power cables, both of which remain key drivers of the Company’s development. This marks an important milestone in the Group’s strategy to diversify and consolidate its activities across the major segments of the energy industry, as announced last July during the acquisition of Rana Subsea S.p.A.
Rana Subsea, which became part of the Next Geosolutions Group in early September 2025, has also recently signed a contract with Saipem under the same project (Bouri Gas Utilization) for the provision of specialized subsea services and installation support operations (Installation Operations and Diving Activities), with a total value of approximately €62.6 million, plus options, and a duration extending through Q2 2026.
The award of these contracts, related to the same project, concretely highlights the synergy between the two entities and represents a tangible milestone towards strengthening the Group’s positioning as a key international player in offshore services, with an offering capable of covering the entire project lifecycle. Indeed, Next Geosolutions, with its consolidated know-how in survey, geoscience, and offshore installation support activities, and Rana Subsea, a leader in complex subsea operations and IMR interventions, together provide integrated coverage of different key segments within the offshore infrastructure development cycle.
Giovanni Ranieri, CEO of Next Geosolutions, commented: “The award of these new contracts with Saipem marks a significant step forward in the growth path of our Group. The joint presence of NextGeo and Rana Subsea in the same project clearly demonstrates the full complementarity of our expertise and our ability to operate in synergy across different, yet closely integrated activities, positioning ourselves as a single, trusted partner for the development of complex projects. This is a collective achievement that strengthens our Group identity and represents a natural evolution towards an increasingly integrated, competitive, and operationally excellent model.”
