Xodus Subsea to Boost Market Competition

Chiyoda Corporation, Xodus Group and Saipem International BV, a subsidiary company of Saipem Spa, have joined forces to set up a subsea engineering company named Xodus Subsea.

Xodus Subsea plans to challenge the largest tier-one subsea engineering companies for a share of the global market. Xodus Subsea 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 bring together Xodus Group’s front end engineering capability, Saipem’s turnkey engineering, procurement, construction and installation project experience and Chiyoda’s project management capability of large scale international projects.

The company will offer technical subsea expertise and also have access to a significant bulk of multidiscipline engineers through the partner companies.

Xodus Subsea engineering services cover field development, FEED, 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, pipeline, trunklines and export systems, riser systems, subsea processing and EOR.

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’s 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.”

Commenting on the establishment of the new company, Umberto Vergine, Saipem CEO, said: “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. 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.”

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.

Press Release, October 09, 2014; Image: Xodus Group