Xodus Group, Saipem and Chiyoda Join Forces to Set Up New Subsea Company

-New company will rival largest subsea engineering firms for a share of the global market-

International energy consultancy Xodus Group today 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 organisation 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 engineering centres in priority energy locations.

Xodus Subsea engineering services will take a unique approach to technical subsea challenges by bringing 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. The company will offer a wealth of technical subsea expertise and also have access to more than 1,000 multidiscipline engineers through the partner companies.

Colin Manson CEO of Xodus Group said: “The launch of Xodus Subsea marks a new era of subsea engineering support to the global oil and gas industry. For the first time operators can choose a subsea engineering company that is backed by world leading contractors without being exclusively tied to them. We have the global reach, capability and technical prowess to support the world’s largest and most complex subsea projects. We offer integrated subsea services to minimise project risk and deliver the best technical results.

“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.”

Xodus Subsea engineering services cover field development, projects including FEED and detailed design, and lifecycle consultancy 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).

Matt Kirk, Americas’ regional director for Xodus Group will take up the new position of Xodus Subsea managing director with other key positions in the leadership team being filled by managers from all three companies.