Chiyoda News

Photo:  Xodus Group Ltd

Xodus, Atlantis Resources Mulls Japanese Tidal Opportunities

MeyGen. Xodus played a pivotal role in the creation of the environmental statement as lead consultant in the environmental impact assessment for the project.Pete Tipler, Principal Consultant at Xodus Group, said, “Over the last few years, we have built up strong connections in Japan through Chiyoda and we look forward to progressing this opportunity with Atlantis.“We have a long and trusted relationship with Atlantis from the early days of their turbine testing at the European Marine Energy Centre (EMEC) and through the MeyGen project and can rely on the experience of their team to understand

Photo: Xodus Group

Xodus, Atlantis Resources Pursue Japanese Tidal Projects

project, MeyGen. Xodus played a pivotal role in the creation of the environmental statement as lead consultant in the environmental impact assessment for the project.Pete Tipler, Principal Consultant at Xodus Group, said, “Over the last few years, have built up strong connections in Japan through Chiyoda and we look forward to progressing this opportunity with Atlantis.“We have a long and trusted relationship with Atlantis from the early days of their turbine testing at the European Marine Energy Center (EMEC) and through the MeyGen project and can rely on the experience of their team to understand

Lewek Constellation sets pipelay record-in-GoM Photo courtesy of  Saipem

Saipem Buys Lewek Constellation Vessel

Italian oil and gas contractor Saipem said it has reached a deal to purchase the pipelay, heavy lift and construction vessel Lewek Constellation for $275 million. The 2013-built DP3 rigid and flexible pipeline construction vessel had been previously owned by bankrupt EMAS Chiyoda Subsea.   Saipem said the vessel will be available for hire immediately and will be marketed globally, particularly in the Gulf of Mexico, North Sea and Norwegian Sea where the its characteristics are particularly suitable for submarine tie-backs.   Saipem CEO, Stefano Cao, said, “In the current economic

Photo: Subsea 7 S.A.

Subsea 7 Acquires EMAS Chiyoda Subsea Assets

Subsea 7 S.A. said it has acquires certain businesses of EMAS Chiyoda Subsea (ECS) under a U.S. bankruptcy code Chapter 11 Plan of Reorganization, confirmed by the U.S. Bankruptcy Court for the Southern District of Texas and became effective on June 29, 2017.   According to Subsea 7, it will pay less than $100 million in aggregate, including its contribution to the Debtor in Possession credit facility, to acquire the ECS businesses, the Ingleside spoolbase and other assets.   “In a challenging business environment our differentiated offering and strong capital discipline has

Photo: Emas Chiyoda Subsea Ltd

Emas Chiyoda Subsea Files for Bankruptcy

of Singapore's Ezra files for U.S. bankruptcy   A subsea and offshore contractor affiliate of Ezra Holdings Ltd, a struggling Singaporean oilfield services firm, filed for U.S. bankruptcy as it ran short of cash due to a lingering downturn in the oil-and-gas industry.   The affiliate, Emas Chiyoda Subsea Ltd, said in court papers filed in Houston that the company was suffering from weak demand for its subsea contracting work and tightening credit conditions.   Ezra has said it may have to take a $170 million writedown on the value of its investment in Emas Chiyoda.   Oilfield

(Photo: EMAS Chiyoda Subsea Limited)

NYK Buys Stake in EMAS Chiyoda Subsea

NYK has acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (Ezra) and the Chiyoda Corporation (Chiyoda).   ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities — essential components in offshore oil and gas field development. After this acquisition, ECS’s shareholding structure will shift to Ezra 40 percent, Chiyoda 35 percent, and NYK 25 percent.   Based on its medium-term management plan emphasizing differentiation through the use

Photo: Fugro

Fugro Secures North Sea Trenching Projects

deployed in the North Sea over the next 12 months.   At the Wintershall-owned Maria development in the Norwegian sector of the North Sea, Fugro will deploy the Q1400 trenching system under a contract with Subsea 7. At Det norske’s Ivar Aasen development, the system will be deployed for EMAS CHIYODA Subsea in June. For both projects the trencher will operate in jetting mode for burial of pipelines, power cables and umbilicals.   In the U.K. sector, a contract with Bibby Offshore will see Fugro’s Q1400 trencher operating in both jetting and cutting modes to bury a new umbilical

Courtesy EMAS CHIYODA Subsea

Nippon Yusen to Invest in EMAS Chiyoda Subsea Services JV

Japanese shipper Nippon Yusen Kaisha (NYK) has agreed to invest in EMAS Chiyoda, a subsea services joint venture between oilfield services firm Ezra Holdings Ltd and Chiyoda Corp, Ezra said in a statement late on Friday. Singapore's Ezra, through its EMAS AMC subsidiary, plans to sell a 10 percent stake in the joint venture for $36 million, while engineering company Chiyoda will sell a 15 percent stake. Once the deal is completed, Ezra will hold 40 percent of the joint venture, Chiyoda 35 percent, while NYK will hold 25 percent. Ezra, one of the city-state's many oilfield service firms hit by a

Steve Swindell (Photo: Xodus)

Xodus to Lead Norwegian Continental Shelf Study for Lundin

wide ranging technical capabilities as it calls for concept screening, feasibility studies, concept selection and pre-engineering, subsea and facilities including modifications, debottlenecking and process optimization studies. The framework will see Xodus working closely with Kvaerner, EMAS Chiyoda Subsea and Kanfa as partners and subcontractors, giving Lundin access to concept owner expertise. It was won against fierce competition and represents an important step for Xodus and its partners in establishing a comprehensive understanding of challenges related to Lundin’s discoveries

FPSO Cidade de Paraty image (CG) Photo NYK

Offshore Brazil: Production Starts at FPSO Unit

production in a pre-salt area off Brazil.   This FPSO unit, FPSO Cidade de Marica, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK (48.72 percent; head office: Chiyoda-ku, Tokyo; president: Tadaaki Naito) and the Mitsubishi Corporation (51.28 percent; head office: Chiyoda-ku, Tokyo; president & CEO: Ken Kobayashi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FSPO.   NYK will aim to further

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