THE North-East's subsea industry has been urged to take immediate action to ensure the continued growth of the sector and maintain its leading position in the global marketplace.
Malcolm Webb, the chief executive of Oil and Gas UK, stressed the need for continued investment in the region to ensure the future of the industry.
Speaking at the recent Subsea North-East conference in Newcastle, he said: "With the exploration of smaller and more remote oil and gas fields, research and development in cutting edge technology is required to remain at the forefront of this industry.
"Companies need to invest heavily to maintain the infrastructure, to develop the technology and to ensure a skilled workforce is available."
The event was organised by Subsea North-East, which works to help create and safeguard jobs and secure investment in the industry, which is estimated to be worth £5.1bn to the UK this year.
Chris Braithwaite, the chairman of Subsea North-East, said: "The subsea industry is an export- oriented sector and has played an important part in the North-East economy for many years. There is expertise in this region which is sought in oil and gas markets around the world.
"It is vital that regional businesses share knowledge and opportunities and work together to continuously develop a skilled workforce."
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