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Subsea UK Launches New London Event

24 June 2008

24 June 2008

Subsea Europe to Focus on Subsea Economics – the Future Drivers

Subsea UK is today launching a new event which will focus on the European and African subsea oil and gas markets and attract more attention from other UK industries, particularly the financial markets.

Subsea Europe will be held in the UK capital on 30th of October 2008. The inaugural conference and exhibition will focus on the future drivers in subsea economics.

Chief executive of the industry body which champions the country’s fast-growing subsea oil and gas sector, David Pridden said: “The subsea industry in the UK still continues to be one of the fastest-growing sectors in the UK economy and needs to be more widely recognised. We lead the world in this technologically demanding industry with a $9 billion share of a global market worth $25 billion.

“The UK subsea sector has grown by 25% in each of the last two years. It employs 40,000 people across the UK and exports 50% of its products and services.

“This London event, focused on the European and dynamic West African markets, will enable us to communicate these messages to a more diverse audience such as the financial, marine and renewable sectors. Greater understanding of our potential will ensure that it can be fully exploited by UK based companies.

“This in turn will give the UK a platform from which to lead in marine renewables and use of depleted reservoirs for carbon and other product storage.”

The exhibition will provide companies with the opportunity to highlight their skills and technology to an audience of key decision makers from the operators and contractors of the subsea oil and gas and wider marine sectors across Europe and Africa.

The impact of the high oil price and unprecedented levels of activity will be discussed at the conference which will also feature presentations of game- changing technologies being developed in the UK.

Organised with the support of Oil & Gas UK and BERR and hosted in the Business Design Centre in Islington, the event will be preceded by a subsea networking dinner in the London Aquarium.