Al Gihaz contracting, part of Al Gihaz Holding, has announced its acquisition of assets, intellectual property and the management systems of Enshore Subsea Ltd, leading UK based subsea trenching company, providing seabed intervention services to mega-projects across industry
The acquisition of a new joint venture aims to form a leading seabed intervention and construction management services provider. The joint venture relies on the acquired specialised assets of the company, the skilled team and the company?s successful track record of completed projects to aid the kingdom of Saudi Arabia.
Sami Alangari, group vice chairman, Al Gihaz Holding, said, ?With this acquisition, Enshore Subsea will benefit from the technical and financial expertise of Al Gihaz contracting, which for many years has been a leading power and manufacturing services provider locally and internationally. We will be able to provide competitive, resilient and diverse services to cover projects globally, and in the Kingdom of Saudi Arabia. This investment is in line with the Vision 2030 of the kingdom and will pave the way for a strong involvement of the group in this field.?
Enshore Subsea which is based out of the existing operational facility in the United Kingdom?s Port of Blyth, is ideally located to serve the buoyant Northern European offshore wind market and is supported by a skills base that facilitates the supply of services into the global offshore seabed intervention market. Services include subsea engineering and construction management, skilled manpower supply and equipment rental for subsea trenching, seabed intervention, development of seabed tooling technology and submarine flexible product installation.
Pierre Boyde, managing director of Enshore Subsea, said, ?I am delighted that through this cooperation with Al Gihaz, we are able to take the company forward with a sustainable cost base, renewed energy and focus on our areas of expertise. We aim to be the Contractor?s contractor of choice, supporting seabed intervention projects worldwide.?
