Global Underwater Hub (GUH) and Subsea Innovation Cluster Australia (SICA) have signed an MoU to collaborate over the development of the subsea sector in both hemispheres.
Under the agreement, the organisations will actively promote opportunities for their subsea supply chains in both countries and share market intelligence and learnings around diversification strategies for the energy transition and defence operation.
GUH Chief Executive, Neil Gordon, said, “Australia has a broad conventional energy mix with strong ambitions towards net zero […] crucially, and similar to the UK, Australia champions a just transition which builds in energy resiliency and security with opportunities in sustained oil and gas production, decommissioning and carbon capture.”
Gordon also highlighted the continued production within the oil and gas industry within Australia where there are opportunities within new developments as well as in the expansion oil current production by leading operators including Woodside and Santos.
He added, “Decommissioning is a significant opportunity in Australia where the inventory of subsea assets requiring to be decommissioned includes over 1,500 wells and structures and 4,500km of pipelines with major opportunities for specialist plugging, cutting, inspection and recovery technologies.”
SICA Cluster Manager, Colin McIvor, commented, “This MoU marks an important step in strengthening collaboration between Australia and the UK’s subsea sectors. By working with GHU, we’re opening new opportunities for innovation, knowledge sharing, and international market access for SICA members. Both organisations bring unique strengths: SICA’s agility and cross-sector innovation focus and GUH’s depth of experience and established global networks. By sharing these, we can deliver real impact for established and emerging industries and accelerate significant growth for both countries.”
