Subsea UK to Build Regional Hub in the South West to Boost Business
20 April 2015
Industry body, Subsea UK, is looking to establish a regional hub in the south-west of England that will bring together businesses across the subsea supply chain to identify opportunities and debate the challenges facing the sector which supports around 55,000 jobs and generates £9billion to the UK economy.
Subsea UK will host its second event in Bristol tomorrow (21st April) in the city’s Thistle Hotel. It is estimated that around 40 businesses in the region are involved in the fast-growing sector which is focused on underwater activity in relation to oil & gas, defence, oceanology and marine renewables. This evening reception is part of a series of regional events organised by Subsea UK in the key areas across the UK where there are clusters of subsea business.
Subsea UK is a self-sustaining body that champions the country’s subsea supply chain, representing over 320 members. It acts as a focal point to promote the sector and maximise its opportunities and provides a national forum for collaboration, diversification and technology development.
Neil Gordon, chief executive of Subsea UK said: "The south-west 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 help these companies exploit the potential to increase business at home and abroad.
"Oil and gas is by far and away the largest market for subsea companies but the sharp decline in oil price is of major concern. 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 lower cost. This event is an important step in helping organisations in the south-west to come together and work towards a common goal. Anyone with an interest in the subsea industry is welcome to attend.”