NYK Buys Stake in EMAS Chiyoda Subsea

NYK has acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (5DN.SI) (Ezra) and the Chiyoda Corporation (Chiyoda).
 
ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities — essential components in offshore oil and gas field development. After this acquisition, ECS’s shareholding structure will shift to Ezra 40 percent, Chiyoda 35 percent, and NYK 25 percent.
 
Based on its medium-term management plan emphasizing differentiation through the use of creative solutions, NYK has been expanding its business in offshore oil and gas exploration/development, such as seismic, drilling, production, and shuttle transportation services. By participating in the subsea EPCI segment, NYK saidi it plans to steadily accumulate expertise and further extend its service range in the offshore oil and gas value chain.