Subsea UK is looking to establish a regional hub in the south of England that will bring together businesses across the subsea supply chain to identify opportunities and debate the challenges.
The UK’s subsea industry body explained in the press release on Wednesday that the subsea sector supports around 55,000 jobs and generates £9 billion ($13.8) to the UK economy.
Subsea UK said it would host its first south of England networking event in Gosport, Hampshire from November 5-6, at the Explosion Museum of Naval Firepower.
There is a growing number of businesses in the region that are involved in the fast-growing sector which is focused on underwater activity in relation to oil & gas, defence, oceanology and marine renewables, Subsea UK has said.
Neil Gordon, chief executive of Subsea UK said: “The south of England is home to a huge amount of innovation and expertise, particularly in the areas of oil and gas. As an organisation covering the whole of the UK, we want to extend our support to these companies exploit the potential to increase business at home and abroad, in what is a challenging time for the industry due to the drop in oil price.”
“Oil and gas is the largest market for subsea companies.” – Neil Gordon
Gordon said: “Oil and gas is by far and away the largest market for subsea companies but the sharp decline in commodity price is having an impact. Collaboration and driving efficiencies through new technology are critical in the current climate and the subsea sector must rise to the challenge of working together to discover and develop new solutions that will increase production and recovery of hydrocarbon reserves at a lower cost.”
Series of regional workshops
The event is a part of a series of regional workshops organised by Subsea UK in the key areas across the UK where there are clusters of subsea business. According to Subsea UK, delegates will get the chance to visit the Saab Seaeye manufacturing base where they will gain an insight into how electric powered Remotely Operated Vehicles are designed, built and deployed.
Subsea UK further says that delegates will also visit Magma Global, the Portsmouth-based designer and manufacturer of high-performance carbon fibre pipe for subsea oil and gas applications, where they will discover how technology has played a part in the evolution of underwater pipelines for deeper, more challenging waters.