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Subsea UK "More Relevant Than Ever" as 15 New Members Join

27 May 2010

Subsea UK has underlined its relevance in the industry with the announcement of 15 new member companies, including operator Silverstone Energy and Galathea Group.

The industry body, formed in 2004 with a handful of member companies to champion the rapidly-growing UK subsea sector, now represents over 30% of the UK's subsea firms who between them employ over 25% of the 40,000 UK employees in the sector.

A fully self-sustaining organisation, Subsea UK now has well over 200 members spanning the entire subsea supply chain from operators to major contractors and manufacturers to small technology innovators.

'Being a member of Subsea UK is more relevant than ever for companies in the sector,' says Alistair Birnie, chief executive of Subsea UK. 'Our new business plan is focused around tackling the challenges facing our high performing sectors, these are the real issues affecting businesses.

'The UKCS is becoming much tougher to extend with rewards often not able to sustain costs. However international subsea business is set to grow from $40 billion to around $60 billion in four years and opportunities in renewable energy are starting to become more tangible. To sustain the UK's subsea sector, we have to transform our exports from around $4 billion at present to around $10 billion.'

Subsea UK's business is therefore focused on helping companies grow their global marketshare and ensuring the sector achieves 40% growth.

The industry body is also leading the charge to make the UKCS a viable and sustainable proposition through its work in supporting skills development, safety and key initiatives to address immediate challenges such as equipment obsolescence and reliability.

Mr Birnie adds: 'Our key objectives are to deliver measurable services that make a real difference in the areas of export, skills and technology. Collaboration will also be essential for the future and Subsea UK is already working with partner organisations and stakeholders to develop new initiatives such as joint industry projects.

'The skills shortages have not gone away and will very shortly start to constrain growth once more. The industry as a whole has to work together to ensure new skills are developed and a pipeline of emerging talent is coming through.

'The increasing need for new technology to address the challenges of global oil and gas production in deeper waters to secure energy supply means that we must get better and quicker at bringing that technology to market.'

The new members are:
Silverstone Energy
Ashstead Technology
Bond Pearce
Cosalt
Port Services
Pipe Technologies
Galathea Group
SMIT Subsea Europe
IPWL
Strategic Resources
Photo Synergy
Lankhorst Mouldings
Subspection.
ACE Winches
Stronachs