The new Subsea Engineering Action Plan is aimed at helping Scottish companies increase its share in the global subsea market.
According to the agency, around 370 Scottish companies generate an estimated turnover of £7.5bn ($9.2bn) in the subsea industry, accounting for 14% of the total market.
As part of the new action plan, Scottish Enterprise intends to focus on increasing business innovation, research and testing infrastructure, supported subsea related investment by the Scotland’s economic development agencies.
Scottish Government Minister for Business, Innovation and Energy Paul Wheelhouse said: “The plan launched today aims for the Scottish supply chain to capture an even larger slice of the global subsea market through this and to see a stronger supply chain, generating even more jobs and economic growth for Scotland and, crucially, to increase the strength and capability of the industry.”
Wheelhouse also confirmed £750,000 grant to support engineering firm Enpro Subsea’s research and development (R&D) project to help improve production.
The firm plans to invest £1.5m in the project, which aims to maximize economic recovery from existing subsea wells while reducing operating costs for the companies.
Enpro Subsea managing director Ian Donald said: “This assistance from Scottish Enterprise will enable Enpro to develop the next generation of subsea enhanced production intervention equipment to increase oil recovery and address emerging markets in deeper waters.”
Scottish Enterprise’s grant will be used by Enpro to design, develop and test new technology adding to its Enhanced Subsea Sampling and Injection (ESSI) range of products.
Image: Enpro’s new project aims to help improve production from existing subsea wells. Photo: courtesy of Enpro Subsea Ltd/Scottish Enterprise.
