Saudi Arabia’s Al Gihaz Holding buys assets of UK’s Enshore Subsea

SourceThe National
SectorOil & Gas
CountrySaudi Arabia

Saudi Arabia-based Al Gihaz Holding's contracting unit has bought the assets of Enshore Subsea, a UK-based company that provides subsea trenching services to offshore projects around the world. The deal will lead to the creation of a new joint venture that will provide seabed intervention and construction management services to major projects. It will also help in the kingdom's drive to generate 58.7 gigawatts of clean energy through major solar and wind projects, the company said. "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 more...