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North denied research base; in association with RBS.

A NEW research institute for the subsea oil and gas industry will be created in Aberdeen and not the North East.

The region had been touted as a possible location for the centre for the fast-growing industry after David Pridden, chief executive of industry body Subsea UK, praised the entrepreneurial spirit in the North East, which he said was absent in Aberdeen.

He said there was a skilled workforce ready for employment in the North East while subsea firms in Aberdeen were struggling to find staff.

Yesterday, however, it emerged that Aberdeen - which is home to most of the UK's 750 subsea companies - will be the headquarters of the new institute. This will be a joint venture between Aberdeen University, the city's Robert Gordon University and Dundee University. The HQ of the new institute is expected to be at Aberdeen University.

Mr Pridden revealed the plans at Subsea UK's annual awards dinner in Aberdeen which was attended by more than 600 people.

It is forecast that sales in the global subsea industry will soar to more than pounds 23bn a year by 2012 from the current pounds 18bn.
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Feb 15, 2008
Words:188
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