We built a 43' demonstrator that was powerd by a single 450 HP Ford V8 turning two Berkely waterjets. The splitter transmissions consisted of a pair of synchronous Gates belts, each driven off a common center shaft to individual output shafts offset port and starboard. On the end of each driven shaft that was not the one connected to a jet unit we had a hydraulic pump, on the one side, and a cooling water pump on the other.
Very compact, reliable and reasonably quiet setup all around; we were very happy with it. We did have to install, after initial trials, an axial blower to force air through the aluminum "box" that comprised the transmission housing that held/supported shafts and bearings; those belts will generate a surprising (to us anyway) amount of heat. The box was not made of all solid plate (1/2" aluminum btw) - it had pretty large vent holes machined in the top and bottom plates already so that we had access for checking/adjusting the belt alignment and tension.