Excellence and innovation in the subsea sector is the North East’s best kept secret.
Subsea technology involves highly sophisticated equipment which operates remotely under the ocean, providing a safe way of recovering hard to reach or marginal reserves. In addition, subsea technologies are used in many deepwater projects around the globe, where access to reserves is difficult due to water depths. With 66,000 jobs in over 750 companies, UK subsea companies have at least 45% of the global market.
In the North East, the sector is made up of around 50 supply chain companies, generating a combined turnover in excess of £1.5 billion a year. This is 20% of the value of the manufacturing sector in the North East, supporting over 15,000 jobs.
The sector is supported by ‘Subsea NE’, the regional advocacy group for the North East region. Formed in 2007 by a number of senior executives from subsea companies, the group came together with the following objectives:
- To promote the North East of England as a world class centre for offshore technologies and solutions
- To highlight the leading role that the subsea sector in the North East of England plays in the global offshore oil & gas industry
- To encourage closer collaboration across the entire sector in the region
- To showcase businesses, which are leading subsea developments around the world
- To demonstrate the importance of the sector to the North East of England
- To highlight some of the future projects and business opportunities for the sector
The group consists of 13 leading North East subsea organisations, which all trade internationally. In addition to promoting the sector worldwide, the group has addressed issues around skills, research and technology. This resulted in the establishment of MSc in Subsea Engineering & Management at Newcastle University.
For the subsea industry in the UK, this is an exciting and challenging time and is now one of the fastest growing sectors for the economy. The UK subsea sector has grown by 40% during three years.
If you’re interested in how to get involved in subsea career development, visit our subsea sector page for further information or fill in the contact form below.