Subsea 7 has agreed to acquire a 60% holding in Xodus Group, an energy consultancy with headquarters in Aberdeen, Scotland.
The original owner, Japanese Chiyoda Group, will retain a 40% holding as a joint venture partner.
Xodus will continue to operate independently of its parent companies, providing engineering and advisory services to the energy industry. Through the acquisition Subsea 7 hopes to improve its early engineering engagement in both oil and gas and offshore renewables. At the same time, Chioda hopes Subsea 7 can enhance Xodus's capability and its global reach.
