Offshore investment
The new venture from Saudi and UK firms will scout for opportunities in the subsea engineering services space. Image Credit: Stock photo

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.