Home: Issue 7 2010 › Securing the future
Securing the future
29/07/2010 | Channel:
Human Resources, Subsea, Subsea UK
Alistair Birnie, chief executive of Subsea UK, has visited the House of Commons to encourage the Government to show greater support for the sector that contributes £5 billion to the economy and supports 40,000 jobs.
Speaking from Westminster, he said: “The subsea sector is a substantial revenue generator but it must be at the heart of the Government’s energy strategy. The price of ignoring this valuable sector which is involved in all forms of offshore energy and at the heart of the growth in oil and gas exports and renewable energy, will be too high to pay in terms of loss of revenue and jobs to the UK.”
Subsea represents 43 per cent of oil and gas production, which generated some £12 billion in tax revenues in 2008/9. This percentage is growing year on year with 70 per cent of new production attributed to subsea.
“It is therefore clear that subsea increasingly enables these revenues and the balance is shifting offshore. Far from diminishing, the subsea oil and gas sector is rapidly growing, fuelled by industry needs and demand. Combine this with Scottish & Southern Energy’s estimates of 38 per cent of offshore wind expenditure being subsea and the sector becomes even more strategically central to energy policy,” he commented.
“This strategic resource must be adequately supported as part of the Government’s core energy strategy through skills and technology development at national and regional levels.”