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Subsea industry in plea for support to remain global leader

February 5, 2014 by  
Filed under Top Stories

Divers are just one part of the subsea industry

The UK subsea industry has created 16,000 new jobs over the last three years, with another 10,000 – the majority in Scotland – in the pipeline, it has been revealed.

The sector’s trade body said it supports a total of 66,000 jobs but urged government to help it remain a global leader.

Subsea UK highlighted foreign governments giving strategic support.

The UK and Scottish governments insisted they are working hard to help.

Subsea UK said the industry is now worth £8.9bn.

Companies in the UK’s subsea industry supply everything from diving services to remotely-controlled vehicles, with Aberdeen regarded as the oil capital of Europe.

The trade body said just over 75% of the total revenues were generated in the north east of Scotland

Expertise developed in the search for North Sea oil has helped it dominate the world stage, with nearly half the global market.

Subsea UK urged the UK and Scottish governments to do more to help develop the skills and technology to make the most of new opportunities.

‘Decades to come’

A survey of more than 750 companies indicated that 16,000 new jobs had been created in the sector since 2010.

It is forecast the sector’s worth could grow to £11.1bn by 2016.

Neil Gordon, chief executive of Subsea UK, said: “These findings are further proof of the success, dynamism and sustained growth potential of subsea.”

A spokesman for the Scottish government said: “Scotland is in a prime position to exploit global subsea opportunities and the Scottish Government and its enterprise agencies are committed to working closely with Subsea UK to support the industry’s international ambitions as demonstrated by the recently published Doing Business in Brazil and Doing Business in Australia guides.”

UK Business Minister Michael Fallon said: “This report highlights what a success story the subsea sector is.

“The government has been working hard with industry as part of the oil and gas industrial strategy to ensure that the North Sea is a very fertile ground for oil and gas investment.

“This includes a combined focus on skills, technology, exports and access to finance so that we can look forward to seeing this success last for decades to come.”

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