A joint-venture set up between energy service firms Technip and Subsea 7 in 2006 in order to work together on projects in the Asia-Pacific region is being wound down.
The two firms have appointed a liquidator to dissolve the business, Technip Subsea 7 Asia Pacific UK.
The move follows the completion of projects, with the two firms saying as far back as 2009 they wanted to pursue separate strategic opportunities amid growth in deepwater subsea construction work in the Asia-Pacific region.
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