News

Great to meet up with Steve Fernie, Global Underwater Hub (GUH) at ADIPEC Exhibition and Conference 2024 and to see GUH participating in “Offshore and Wind Perspective on Managing Subsea Power Systems” event as part of SUT - Society for Underwater Technology.  This event was introduced by Adrian Phillips, Chairman of SUT and featured GUH’s expertise on subsea cables as part of the ADIPEC Marine & Logistics Innovation sessions. The session panel comprised Pierre Guerin- 2H Offshore, Dean Sanders - Nylacast Group, Marc Bell – Tekmar Energy, MCS Group Ltd – Alasdair Cowie and Mocean Energy – Ian Crossland, showcasing the advanced technology and know-how of GUH members.

GUH is headquartered in Aberdeen and represents the diverse range of businesses operating in the UK’s £8 billion underwater industry: it facilitates cross-collaboration and growth across the underwater industry, which comprises offshore energy, aquaculture, defence, telecoms and subsea minerals. Key GUH members include leading industry players such as Brimmond, ROVOP, Proserv, Tekmar Energy, STATS Group, Xodus.

The subsea market segment, which includes players involved in production and processing systems such as subsea umbilical risers and flowlines (SURF), trees, wellheads, manifolds and other components, is poised to experience a significant influx of capital. Driven by rising operator expenditure on equipment and installation services, Rystad Energy projects a 10% annual compound growth rate (CAGR) from 2024 to 2027, with total spending anticipated to exceed $42 billion by the end of this period.

The subsea sector is also expanding beyond traditional oil and gas applications. The push for carbon capture and storage (CCS) is creating new opportunities for suppliers and spurring research and development in this emerging market. Consequently, suppliers are leading the way in developing more efficient subsea production systems, which are set to see broader adoption.

With its origins in the North Sea oil and gas sector, HFI has been privileged to support various GUH members in their MENA business expansion and the subsea sector will be a key feature in the expansion of our Bridgehead Consulting Solutions service in 2025 particularly in relation to business growth ventures through international group structures, local partner ventures, acquisitions and in-region technology manufacturing.

Looking forward to 2025, GUH’s keynote conference, Subsea Expo 2025, takes place in Aberdeen on 18 - 20 February.