SAN DONATO MILANESE, Italy – Saipem has joined with Xodus Group and Chiyoda Corp. to establish a stand-alone company, named Xodus Subsea, to support the growing subsea fields development sector. Xodus Subsea will start operations immediately.
Xodus Subsea will provide studies, engineering, and consultancy services focusing mainly on the early phase of the projects, such as front-end engineering, conceptual studies, and basic design.
While Xodus Subsea will be an independent, autonomous, and self-sustaining company with its own resources and assets, Saipem will continue to manage the bidding and the execution of EPCI contracts on subsea and pipeline projects.
Xodus Subsea partners are Saipem, with a 50% share; Xodus, with 40%; and Chiyoda, with 10%.