James Fisher forms joint venture with Chinese offshore service provider
- Business & Finance
Global subsea excavation specialist James Fisher Subsea Excavation (JFSE), part of James Fisher and Sons, has formed a joint venture with Ocean Team Asia Pacific (OTAP), a specialist Chinese offshore project, vessel, and marine equipment provider.
James Fisher said that the JV, named James Fisher Ocean Team, was formed to provide an enhanced service to clients in China.
Creation of the JV is a result of an existing four-year cooperation between JFSE and OTAP with the companies working together on several projects.
The company added that equipment would be positioned permanently in the country to enable efficient mobilization. Local operational and project management personnel will be delivering JFSE’s mass / controlled flow excavation (M/CFE) services in the oil and gas sector.
Apart from servicing the oil and gas sector, the new company will be focused on establishing M/CFE as a solution for projects in the offshore renewables sector.
JFSE’s team has had a presence in the region for eight years and has already completed numerous projects for Chinese clients including pipeline and cable trenching, deburial, and free span correction works.
Richard Beattie, JFSE APAC regional director, said: “China is an important and growing marketplace. Increasing our presence here is part of our strategic development plan for the continued growth of our business.
“We are confident our M/CFE tools and expertise will play a vital role in increasing the time and cost-efficiencies on a wide range of projects emerging in the oil & gas and renewables sectors.”
Roger Wang, CEO of OTAP, added: “This is an important step for us to increase and enhance how we can develop JFSE’s M/CFE offering in China. Establishing a local company, contacts and equipment base in China is vitally important to truly realize the potential of our growing marketplace.”