Subsea UK’s chief executive said North Sea operators and suppliers need a relationship based on “trust, respect and value” if they are to accelerate the sector’s recovery.
Neil Gordon also said many companies were facing up to the challenge of prolonged low oil and gas prices.
He said a trend for finding more cost-effective solutions was emerging and that decision making on projects was improving.
Mr Gordon was speaking ahead of Europe’s biggest annual subsea conference, which is being held at the Aberdeen Exhibition and Conference Centre (AECC) from Wednesday to Friday.
More than 5,000 delegates and 150 exhibitors are expected to attend Subsea Expo 2017.
Organised by Subsea UK, the event features presentations and workshops with industry leaders from the likes of Aker Solutions, Xodus, Wood Group and Shell.
The theme of this year’s event is “adapting to the new norm”.
It will highlight the changes industry must make to ensure it is well positioned when opportunities arise.
Mr Gordon said: “With fewer deepwater projects being sanctioned, there is a trend to replace high cost topside developments with more cost-effective subsea tie-backs, squeezing more out of existing assets and making much better decisions on projects to maximise financial return over the operational life of assets.
“This appears to be the way our industry is moving and we must adapt to ensure we are in a strong position to embrace and capitalise upon the opportunities that this new norm presents. Those who transform, innovate and forge new alliances will not only survive, but they will open doors to real prospects in the future.”
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