Subsea 7 and Technip have agreed to dissolve their joint venture, Technip Subsea 7 Asia Pacific (TS7), once all its existing projects and tendered work have been completed.
Technip and Subsea 7 worked together on projects in the Asia Pacific region for several years. In 2006, TS7 was formed to provide subsea construction services in many parts of the region.
A statement issued by UK-based Subsea 7 said that the companies both wished to pursue separate strategic development opportunities but would not rule out working together on a case-by-case basis on future projects.