NYK Acquires Share of EMAS Chiyoda Subsea

By Finance

NYK has today acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (Ezra) and the Chiyoda Corporation (Chiyoda).

NYK Acquires Share of EMAS Chiyoda Subsea

Image courtesy: EZRA

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%, Chiyoda 35%, and NYK 25%.

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 will steadily accumulate expertise and further extend its service range in the offshore oil and gas value chain.

--Outline of ECS--
Trade name EMAS Chiyoda Subsea Limited
Established March 31, 2016
President Lee Chye Tek Lionel
Main activities Engineering, procurement, construction, and installation (EPCI) of subsea facilities
Fleet 9 vessels

Source: NYK