Mozambique’s oil and gas regulator, the National Petroleum Institute, and senior representatives from SOCAR, the State Oil Company of the Azerbaijan Republic, will be actively promoting business opportunities for UK subsea companies at Subsea Expo.
Following the discovery of natural gas reserves in the Rovuma basin, Mozambique is expected to become a major LNG supplier to global markets by 2023.
The Local content Manager from Mozambique’s National Petroleum Institute, Natalia Magaia Camba, will share insight into project opportunities within their region.
SOCAR is currently working as part of a consortium led by BP to develop and produce from the Azeri-Chirag–Gunashli (ACG) deep-water field in the Caspian Sea. The field has an estimated reserve of five to six billion barrels of petroleum and in 2019 the average oil production was 535,000 barrels per day. Development of the field is expected to continue until 2050 with the next phase due to produce first oil in 2023.
In October 2015, the DIT, SOCAR and BP launched a partnership programme to assist UK and Azerbaijani companies form long term relationships to support project developments in the region. The programme has resulted in 45 new partnerships and £2.9 billion worth UK exports to date.
Subsea Expo is ramping up the focus on international opportunities for UK companies at this year’s event, which will run from 11 – 13th February at Aberdeen’s P&J Live.
For the first time, Subsea Expo will kick-off with a Global Opportunities Breakfast with the Department of International Trade (DIT) and Scottish Development International (SDI).There will also be an international reception hosted by Subsea UK, DIT and SDI with networking between 350 UK and international delegates from around the world
DIT and SDI will have an international hub at Subsea Expo where there will be regular presentations on the subsea markets in global locations including; Asia, Australia, India, and Brazil.
Experts and representatives from global markets will be available for one-to-one meetings covering opportunities in CCUS, hydrogen, energy efficiency and UK export finance.
Neil Gordon, chief executive of Subsea UK, said: “Over the last 15 years, Subsea Expo has grown to become a truly global exhibition. This year’s event will focus on New Perspectives and will examine the opportunities which exist across the Blue Economy not just in the UK but internationally.
“It is testament to the UK’s world-class subsea reputation and the significance of Subsea Expo as a global platform that we have this year attracted interest from Mozambique’s oil and gas regulator and SOCAR. Both recognise that UK subsea expertise can help them deliver their oil and gas goals.
He added: “The subsea industry is already a major exporter, but exports have suffered in the last few years as a result of the deferral or cancellation of major subsea developments around the world. It is crucial for the long-term sustainability of the industry and for UK PLC that we ramp up our internationalisation efforts across all sectors, not just oil and gas. Subsea Expo provides an excellent springboard into the sectoral and geographical markets with the most potential for the UK’s globally recognised subsea expertise.”
More than 6,000 visitors are expected to attend Subsea Expo. This year’s event will have the theme “New Perspectives” and will debate and examine key topics including how the industry is evolving with the energy transition.