Friday 20 January 2017

Our action plan has been designed on Scotland's existing strengths in subsea engineering, helping our oil and gas companies find new opportunities at home and abroad.

The Scottish oil and gas industry boasts a subsea engineering cluster that is among the strongest in the world.

In fact, with almost half of all the world's subsea installations in the North Sea, Scotland is a global leader in the sector.

These strengths mean Scotland is in a strong position to find new opportunities for growth in international markets and to diversify existing skills into other sectors.

The market has significant potential. Although subsea growth has been largely driven by oil and gas, other sectors are now emerging, including subsea mining, defence, renewable energy and aquaculture.

Already Scotland's 370 subsea companies generate annual turnover of £7.5 billion, with the global market currently valued at around £50 billion per year.