A new global subsea engineering player is in the market after energy consultancy Xodus Group linked up with Italy’s Saipem and mid- and downstream player Chiyoda Corporation of Japan.
The partners are aiming to challenge the largest tier one subsea engineering companies for a share of the global market, with the new entity to be headquartered in London and have a presence across Europe, Africa, the Americas, Middle East and Asia Pacific. This will include eight dedicated engineering centres in priority energy locations, it says.
The new company, to be called Xodus Subsea, will bring together Xodus Group’s front end engineering capability, Saipem’s turnkey Engineering, Procurement, Construction and Installation expertise and Chiyoda’s experience in managing large scale international projects. With a strong background in technical subsea expertise and access to more than 1,000 multidiscipline engineers through the partner companies, the company is likely to make some waves in the global subsea market.
Colin Manson, CEO of Xodus Group, said the launch meant that operators would be able to choose a subsea engineering company “backed by world-leading contractors without being exclusively tied to them”. The new outfit will have the global reach, capability and technical prowess to support the world’s largest and most complex subsea projects, he added. “Because of the unique way the company is set up, it will pass on the benefits of being able to evaluate and select suitable technology early in the decision-making process without being constrained by convention or ownership. The aim is to create clever engineering coupled with accurate, dependable cost estimates that clients can use to make informed decisions.”
The engineering services will cover field development projects including FEED (Front End Engineering and Design) and detailed design, and lifecycle consultancy, it added, with a focus on working with partners to support the development of new technologies. “The company provides extensive knowledge in deepwater engineering, pipelines, trunklines and export systems, riser systems, subsea processing and enhanced oil recovery (EOR),” it added.
At the helm as managing director of Xodus Subsea will be Matt Kirk, Americas’ regional director for Xodus Group, with other key positions in the leadership team to be filled by managers from all three partner companies.
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