Press

Subsea 7 Announces Agreement to Invest in Xodus Group


Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) and Chiyoda Corporation today announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy, from Chiyoda. Chiyoda will retain a 40% holding as a joint venture partner.

This investment by Subsea 7 will help the future development and growth of Xodus and complements the existing support from Chiyoda. Xodus will continue to operate independently of its parent companies, providing unbiased engineering and advisory services to the energy industry and offering objective advice to its clients to help them maximise their returns.

Jean Cahuzac, Subsea 7 CEO said: "This joint venture further enhances our early engineering engagement in both oil and gas and offshore renewables. Through earlier engagement with our clients we can deliver more cost-effective results, introduce new technology, full lifecycle solutions and integrated services. We are committed to maintaining the independent role of Xodus who will continue to deliver long term value for their clients."

Masaji Santo, President and CEO of Chiyoda said: "Subsea 7's experience and scale in offshore energy services will enhance Xodus's capability and its global reach, which I believe will contribute strategic growth of Xodus and its value for Chiyoda as well"



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

subsea7.com/en/investor-relations/financial-result...

Subsea 7investmentXodus Groupjoint ventureJV

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 3 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 7 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 11 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 11 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 11 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice