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Saipem, Chiyoda and Xodus set up a new subsea engineering company

JAKARTA (Rambu Energy) – Saipem SpA, a giant oil and gas contractor company, has joined forces with Xodus Group and Chiyoda Corporation to establish a standalone company, called Xodus Subsea, with the objective to support the growing activity in the subsea fields development sector.

Saipem said in a press statement published in its website that Xodus Subsea will provide studies, engineering and consultancy services focusing mainly on the early phase of the projects, such as front end engineering, conceptual studies, and basic design.

It said the combination of the best skills and experience of the three partners will create a key player in the subsea market, particularly at the high end of engineering. This, it said, will provide the necessary contribution to push the boundaries of the oil and gas subsea sector even further.

Xodus Subsea will be an independent, autonomous and self-sustaining company with its own resources and assets.

Saipem said it will continue to manage the bidding and the execution of EPCI contracts on subsea and pipeline projects.

“We are very pleased to announce the founding of Xodus Subsea with Chiyoda, already a partner of Saipem in the LNG sector, and Xodus Group which has strong expertise in subsea engineering,” Umberto Vergine, Saipem CEO, said.

“We believe that the subsea sector is continuing to grow and through this partnership, Saipem will gain an early understanding on how future projects are being developed. We will then be able to anticipate market needs supporting our clients through new technology, improved operations and the whole subsea development chain of activity.”

Saipem holds 50 percent interest in the new company, Xodus with 40 percent and Chiyoda 10 percent.

Xodus Group is an international energy consultancy provider, focusing on integrated engineering solutions in the Offshore Oil & Gas and Renewable Industries.

Chiyoda is a well-known global engineering company, providing a wide-range of services in the fields of energy, chemicals, petrochemicals, industrial facilities and others, and having the global top position in LNG production facilities.(*)

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