Chiyoda has set out a new business plan which will see it expand in the floater market while maintaining its core in gas and LNG. The Japanese firm was forced to write off more than US $320m because of the bankruptcy of Emas Chiyoda Subsea earlier this year but has maintained that it will not exit the upstream market. It still holds the Xodus Group and has started negotiations with Subsea 7 on potential future co-operation in upstream technology and engineering.
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