As part of the UK Government’s strategy to increase British exports to £1 trillion, Subsea UK is encouraging companies to set their sights on international expansion to sustain long-term growth.
The industry body has widened its “Global Opportunities” program during Subsea Expo, Europe’s largest subsea conference and exhibition, with OE as principal media sponsor, held in Aberdeen 3–5 February.
UK Trade & Investment (UKTI) 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 Brazil, Nigeria, Mexico, East Africa, Norway and Azerbaijan.
Delegates at Subsea Expo will have the opportunity to meet key international decision-makers and attend a dedicated seminar on opportunities in these markets with a panel discussion hosted by leading market specialists on Wednesday 3 February.
UKTI will provide practical help and advice on market entry and export opportunities to UK firms looking to extend their global reach and establish overseas links.
Neil Gordon, CEO of Subsea UK, said: “The maturity of the North Sea, coupled with the challenges we are currently facing as a result of the continued deterioration in oil price, mean that companies must extend their global reach to spread risk and win new business. We cannot afford to rely wholly on doing business on our own doorstep, we must look further afield - with new markets comes new opportunities for growth, diversification, and innovation.
“The UK is still recognized as a global center of subsea excellence in terms of skills, expertise and technology and, now more than ever, we must take this to the markets that hold the most potential and who are actively seeking what we can offer.
Subsea Expo 2016 is expected to attract over 6000 visitors during the three-day exhibition and conference. This year’s theme ‘Time for Transformation’ will look at the fundamental changes the industry must make to deliver the cost savings and efficiencies needed to sustain the sector in a lower, for longer oil price environment.
“Collaborating with organizations, such as UKTI has enabled the development of a strategic approach to growing the UK subsea industry’s international capabilities and reputation,” said Gordon.
“With support from UKTI, we have attracted an impressive array of multi-national and indigenous oil and gas companies from around the world to attend Subsea Expo in a bid to facilitate new export opportunities for our members.”
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