Global Underwater Hub and Subsea Innovation Cluster Australia Sign MoU

Global Underwater Hub (GUH) and Subsea Innovation Cluster Australia (SICA) have recently inked a memorandum of understanding (MoU) to collaborate and enhance the growth of the subsea sector in the UK and Australia.

GUH, the UK’s leading trade and development body representing a $11.9 billion underwater industry, has partnered with SICA, a membership organization of companies in the Australian subsea industry. The aim of this collaboration is to foster innovation, collaboration, and growth among companies and organizations in the subsea sector in both countries.

As per the agreement, GUH and SICA will actively promote opportunities for their subsea supply chains in the UK and Australia, respectively. They will also support each other’s members in entering their respective markets and share market intelligence and learnings around diversification strategies, especially in energy transition and defense.

One of the key priorities of this collaboration is facilitating collaboration by establishing partnership innovation programs between UK and Australian firms to develop and implement technology suitable for both regions.

Specifically, GUH will assist UK companies in capitalizing on significant opportunities in Australia, ranging from oil and gas to decommissioning, carbon capture and storage (CCS), and offshore wind projects.

Neil Gordon, CEO of GUH, emphasized Australia’s strong focus on energy transition and its ambitions towards net zero. He highlighted the opportunities in sustained oil and gas production, decommissioning, offshore wind, and carbon capture in Australia, similar to the UK’s energy landscape.

Gordon also mentioned the opportunities within the oil and gas industry in Australia, with new developments and expansions by leading operators like Woodside and Santos. Additionally, the focus on carbon capture and storage presents significant infrastructure installation requirements and future maintenance opportunities.

Decommissioning is another area of opportunity in Australia, with a substantial inventory of subsea assets requiring decommissioning. The offshore wind sector in Australia, particularly in key regions like South East and Western Australia, offers substantial opportunities for UK subsea companies in areas such as cables, foundations, survey, and protection systems.

This collaboration between GUH and SICA is poised to drive innovation, collaboration, and growth in the subsea sector in both the UK and Australia, creating a platform for shared learning and market expansion.