With UK subsea exports valued at almost US$6.31 billion (£5 billion), Subsea UK is encouraging British firms to set their sights on international expansion to sustain long-term growth.
The industry body is urging companies to strengthen trade partnerships across the globe, exporting the country’s sought after subsea expertise to increase the sector’s international capabilities and reputation.
At this year’s Subsea Expo, being held next week in Aberdeen, the Department of International Trade (DIT) will be hosting one-to-one meetings with in-country experts in a bid to match UK expertise with demand from key oil and gas provinces, including Azerbaijan, Brazil, Mexico, Mozambique, Nigeria, Norway, Tanzania and the US.
As part of Subsea UK’s "Global Opportunities" program, representatives from DIT and UK Export Finance (UKEF) advisors will be available to help companies and individuals explore the most promising export opportunities, as well as provide practical help and advice on market entry.
Neil Gordon, chief executive of Subsea UK said: “With around 50,000 people working in subsea production, the UK is the world leader in deep sea exploration and extraction. And, over 50% of the world’s commercial subsea ROVs are designed and manufactured in the UK. Now more than ever, we must take this expertise to the markets that hold the most potential and who are actively seeking what we can offer.
“Subsea Expo showcases the UK’s world-class subsea technology and innovation and provides companies with the opportunity to meet key international decision-makers. Continuing to work closely alongside organisations such as DIT and UKEF has enabled the development of a strategic approach to facilitate new export opportunities for our members. The demand is out there and huge rewards can be gained from expanding overseas.”
Delegates at Subsea Expo, running from 1-3 February at the Aberdeen Exhibition and Conference Centre, will also have the opportunity to meet key international decision-makers and attend a dedicated seminar on opportunities in Azerbaijan, Brazil, Mozambique, Japan, Mexico, Nigeria and Norway with a panel discussion hosted by leading market specialists on Wednesday, 1 February.
Subsea Expo 2017 is expected to attract around 5000 visitors during the three-day exhibition and conference. This year’s theme ‘Adapting to the New Norm’ will look at the changes industry must make to deliver the cost efficiencies needed to sustain the sector for decades to come.