Saipem focuses on submarine engineering and sets up an independent company, Xodus Subsea, with the British Xodus Group and Chiyoda Corporation, with the aim of supporting the growing activity in the submarine field development sector. Xodus Subsea, informs a statement, will carry out studies and provide engineering and consultancy services, in particular related to the initial phase of projects, such as front-end engineering, concept engineering and basic design .
The combination of the best skills and experiences of the three partners, underlines the note, will create a major player in the subsea engineering market, especially with respect to high-end engineering, which will make a decisive contribution to the further expansion of the frontiers of the oil & gas sector submarine. Xodus Subsea will be an independent and autonomous company, also from a financial point of view, and will have its own resources and assets. Saipem will continue to autonomously manage the tender processes and the execution of the EPCI contracts relating to the submarine projects and the construction of pipelines.
Commenting on the creation of the new company, Saipem CEO Umberto Vergine said: “We are pleased to announce the establishment of Xodus Subsea with Chiyoda, which is already a partner of Saipem in the LNG sector, and with Xodus Group, which has solid skills in the submarine engineering sector. We believe that the subsea engineering sector will continue to grow and that, thanks to this partnership, Saipem will have a privileged perspective on the development of future projects. We will thus be able to anticipate market needs and provide support to our customers throughout the entire chain of submarine development activities, thanks to the availability of new technologies and improved operations".
