Subsea UK Establishes Business Hub in Milton Keynes

Companies specializing in underwater oil and gas operations based in Milton Keynes will come together to discuss and seek solutions to overcoming the challenges facing them as a result of the low oil price.

Subsea UK, the body which represent the $13 billion British subsea sector, is hosting its first event in Milton Keynes.

The event which takes place on May 11, will see 20 businesses in the region come together to identify ways they can work together to exploit potential opportunities and increase business both at home and abroad, in the lower oil price environment.

As the UK’s fastest growing city, Milton Keynes is home to a huge amount of innovation and engineering expertise and this event is the latest in a series to being held in the subsea hubs across the UK.

Neil Gordon, chief executive of Subsea UK said: “This event is an important step in helping organizations in the Milton Keynes area to come together in turbulent times to find new ways of working and new opportunities which will see them through the oil and gas downturn, protecting revenues and jobs.

“As an organization covering the whole of the UK, we want to do what we can to break down the barriers and encourage companies to collaborate in order to drive efficiencies, reduce costs and avoid over engineering.

“Subsea companies have pioneered some of the most ingenious technology in oil and gas and must now use that ingenuity to help increase production and recovery of hydrocarbon reserves in a lower oil price environment.

Subsea UK will also be highlighting opportunities for diversification into subsea mining and offshore renewables to ensure they are well positioned to play a part in the future energy mix and reduce their dependency on the cyclical nature of the oil and gas industry.

Attendees will get the opportunity to visit the sites of three Subsea UK member companies Fugro Intersite, Litre Meter and Astrimar, before going on a historical tour of Bletchley Park, the birthplace of modern information technology and home of British codebreaking.