Subsea 7 Acquires EMAS Chiyoda Subsea Assets
and Saudi Arabia. As a result of the transaction, Subsea 7 has acquired approximately $850 million of order backlog, including five projects (three offshore Saudi Arabia, one offshore Ghana and one offshore Mexico), each with backlog exceeding $50 million. “Subsea 7 and Chiyoda Corporation, one of the Plan of Reorganization sponsors and a previous shareholder of ECS, have started discussions regarding possible collaboration in engineering and technology initiatives to provide solutions to our clients,” Cahuzac said. The financial results of the acquired entities
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
Xodus Subsea: New Era of Subsea Engineering Support
new subsea company to rival largest subsea engineering firms for a share of the global market International energy consultancy Xodus Group announced the launch of a global subsea engineering company in partnership with major oil and gas contractor Saipem and mid and downstream oil and gas giant Chiyoda Corporation. The new organization plans to challenge the largest tier one subsea engineering companies for a share of the global market. It will be headquartered in London and have a presence in several cities across Europe, Africa, the Americas, Middle East and Asia Pacific including eight dedicated
February 2024
