Italian energy company funding offshore oil drill in Libya

An Italian company, NextGeo, were reportedly given an €8.5m contract in order to fund an oil project offshore Libya, Libya Gazette wrote on 17th November.

NextGeo were given the contract by engineering, drilling and construction service giant, Saipem, who officially operate in over 50 countries around the world.

NextGeo and Saipem’s collaboration on the offshore oil project marks an intriguing prospect for the Libyan oil industry, which has undergone notable investments in recent months.

Libya Gazette