North East could be Catalyst to Changes in North Sea Offshore Industry

A transformation is needed in the North Sea oil and gas industry to tackle the perfect storm of low prices and high costs, and the North East supply chain is set to be a key catalyst to that change, a major conference on Tyneside heard recently.

A brain-storming session between senior executives from the region’s leading subsea companies and academics from the region’s five universities was the precursor to the Subsea North East conference on Tyneside last week.

With the North East acknowledged as a global technology hub for the subsea industry the meeting - the first of its kind - was designed to ensure the region continues to play that lead role.

Gordon Drummond, project director at the Aberdeen-based National Subsea Research Initiative (NSRI), who addressed the meeting in the Moncur suite at St James’ Park was impressed by the ‘sheer energy and buzz’ of the North East subsea sector.

He said: "This is streets ahead of the community in Aberdeen. There is a real sense of collaboration in the North East subsea space.”

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