Britain is leading the global subsea industry but competition is fierce, according to industry leaders speaking at the first day of Subsea UK’s annual conference today.
A survey of members of member organisation Subsea UK found that 80% believed the UK was the world leader in subsea, with 50% of the UK’s subsea output being exported globally; a number expected to rise further.
However, 12% warned competition was fierce and that Norway and the US were increasingly challenging the UK’s position.
According to the survey there is also a fear that the UK no longer leads the world in the manufacture of subsea hardware and new technology development.
Neil Gordon, chief executive of Subsea UK, said: “Yes, the global market is set to double and the UK is seen as a world leader. The question is can we retain the share of the global market we have competition from other regions whose governments are investing in the sector?
“Traditionally the oil and gas industry has been seen by government as able to look after itself. But you have got to remember it is not operators, it is the supply chain that needs the investment to play on a level playing field when countries like Brazil are spending 1% of gross revenue from oil and gas on funding research and development.”
According to the survey, the main international markets for the UK subsea companies are, in order, Norway, Brazil and the US, which both offer help for developing technology, south-east Asia, Australia, west Africa and the Middle East.
Subsea UK said this was reflected by the fact that the UK Trade and Investment delegation at this year’s conference, at 13, was the biggest yet with representatives from Brazil, Mexico, Nigeria, Ghana, Angola and Indonesia.
Last year, Subsea 2012 saw record crowds flock to the exhibition centre – over 3,000 people attended, beating the previous year’s record by 700-plus.
More are expected at the event at Aberdeen Exhibition and Conference Centre this year with continued optimism in the sector.
The theme of this year’s two-day event is Beyond The Next Wave – with the sector aiming to look at the longer-term future and sustainability of the UK’s subsea industry.
This morning’s keynote speeches will be followed by parallel panel sessions on technology, renewables and global growth. Tomorrow will see a session on global opportunities with representatives from firms including Petrobras plus a programme for students and young people.
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