Al Gihaz Contracting, part of Saudi Arabia-headquartered Al Gihaz Holding, has acquired the assets, intellectual property and management system of a subsea trenching company based in Blyth.
Enshore Subsea saved from closure after being acquired by Saudi energy firm
The company had been earmarked for closure by its owner DeepOcean
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The future of North East offshore specialist Enshore Subsea has been secured after the company was snapped up by a Saudi Arabian energy company.
Al Gihaz acquires Enshore Subsea khl.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khl.com Daily Mail and Mail on Sunday newspapers.
Dubai: Saudi Arabia’s Al Gihaz Contracting has acquired the assets and management systems of UK’s subsea trenching company Enshore Subsea ltd.
It will now lead to a joint venture to provide seabed intervention and construction management services. “We will be able to provide competitive, resilient and diverse services to cover projects globally… and in Saudi Arabia,” said Sami Alangari, Group Vice-Chairman, Al Gihaz Holding. “With this acquisition, Enshore Subsea will benefit from the technical and financial expertise of Al Gihaz Contracting.”
An investment company, Al Gihaz Holding focusses on energy, healthcare, communications, media and entertainment.
Enshore Subsea will be based out of the existing operational facility in the UK’s Port of Blyth, ideal to serve the Northern European offshore wind. Services will include subsea engineering and construction management, skilled manpower supply and equipment rental for subsea trenching and seabed tooling technology.