NYK has reached an agreement with Ezra Holdings Ltd and Chiyoda Corp. to acquire a 25% share of EMAS Chiyoda Subsea Ltd (ECS). After NYK’s participation, the shareholding structure of ECS will change to Ezra 40%, Chiyoda 35%, and NYK 25%.
ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities.
Based on its ‘More than Shipping 2018’ management plan, NYK has been expanding its business in offshore oil and gas exploration/development.
Subsea EPCI work requires specialised skillsets utilising sophisticated subsea construction vessels, so NYK is confident that the expertise it has accumulated in the offshore business field.
The ‘Basic Plan on Ocean Policy’, an act approved by the Cabinet of Japan in April 2013, outlines a vision of Japan as an oceanic state and encourages the promotion, creation, and development of maritime industries and marine resources, in addition to human resources having maritime technological capabilities.
NYK has been developing its offshore business in line with this basic plan.
NYK will seek to expand its offshore business developments in accordance with the company’s medium-term management plan.
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/exploration/13062016/nyk-acquires-shares-of-emas-chiyoda-subsea-2611/