Subsea UK sets $15 billion goal

Dec. 3, 2007
Subsea UK is calling for the establishment of a center for subsea excellence in Britain.

Offshore staff

ABERDEEN, UK --Subsea UK is calling for the establishment of a center for subsea excellence in Britain.

The industry association claims that the UK subsea sector employs over 30,000 people generating over $6 billion/yr in technology solutions. But in other nations such as Brazil and Norway, the local industry, academic institutions, and government are taking a lead, investing heavily in programs to deliver the next generation of technologies to unlock remaining reserves.

Subsea UK's chief executive David Pridden believes a center of excellence would foster similar collaboration in Britain, helping generate revenues from subsea projects of $15 billion by 2015 by employing "the most talented, educated workforce in the world".

The proposed center would do this by offering a showcase for subsea equipment and technology; a means of coordinating R&D for novel subsea-related technologies; a test house for these technologies; an incubator for subsea start-up companies; and a subsea skills and training academy.

12/03/2007