The UK will reaffirm its position as the world leader in subsea skills and technology when a 60-strong delegation of international visitors is given a valuable insight into the latest expertise and innovations in the sector during a seminar hosted by Subsea UK during Offshore Europe.
Representatives from over 20 different oil and gas organizations and government agencies across South Africa, the Middle East, Asia, South America and Eastern Europe are expected to attend the event at the AECC on September 9, which has been organized in partnership with UK Trade & Investment, to learn more about the UK's capability in the subsea market.
Speakers from Fugro Rovtech, Poseidon, Tritech, Aker Qserv and the National Subsea Research Institute will discuss field development, integrated subsea operations, key technologies and maintenance strategies for subsea systems and pipelines.
The UK subsea industry which employs 40,000 people with revenues of £4.5billion has recorded growth rates of about 25% year on year for the last four years. Currently leading the way in subsea around the world, the UK has the potential to capture a significant share of global market set to grow to £40billion by 2012.
"The UK supply chain holds immense knowledge and experience of subsea operations. Nevertheless, with a rapid growth in export markets, the UK supply chain has adapted quickly to focus on an increasingly international market," said Subsea UK CEO Alistair Birnie.
"Exports are now for the first time extending beyond 50% of the revenues for the UK subsea sector and continuing to grow. Subsea will remain the most buoyant marketplace for the oil and gas industry over the course of the next five years, so ensuring that the emerging markets know that they can turn to the UK for world-leading expertise is absolutely vital."
Subsea UK represents the interests of the entire subsea supply chain in the UK sector, bringing together operators, contractors, supplier and small niche technology firms to enhance the profile of the sector and win new business opportunities at home and abroad.
"Influential delegates from subsea provinces around the globe, including Ghana's energy minister and business leaders from national oil companies and independent operators in Mexico, India, Brazil, Russia, Brunei, Malaysia, China, Egypt, Libya and further afield are expected to attend and will be looking to use this event as an opportunity to learn how the development of technology, skills and expertise honed in the UK adds significant and tangible value to subsea production. For our member companies, it presents an opportunity for global exposure of their innovation."
Subsea UK is a self-sustaining body that champions the UK subsea supply chain, representing over 200 members. It acts as a focal point for all stakeholders to promote the sector and maximize its opportunities at home and abroad and provides a national forum for collaboration, diversification, and technology development.