Subsea UK chief executive Neil Gordon said that deepwater industry remains a significant British export success story, reported BBC. Credit: Pexels from Pixabay.

The latest business activity review from Subsea UK suggests the industry could generate thousands of jobs over the next three years.

According to its report, up to 9,000 people may be employed to serve in different roles in the region.

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It expects the majority of the reported jobs to be located in the northeast of Scotland.

According to the BBC, the northeast of England also expects to see a significant increase in recruitment.

Subsea UK director Gordon Conlon said: “The industry hit rock bottom in 2017, but in 2018, there were signs of recovery with businesses placing orders for vessels, so we did start the year hoping for more signs of the projected recovery.

“Given that the world appears to be moving away from fossil fuels, there is still a huge interest in gas and oil but with the added potential of wind power and other renewables.”

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Darlington-based subsea equipment supplier Supergrip (UK) has welcomed the findings, as reported by The Northern Echo.

Subsea UK’s business activity review for the financial year 2018-2019 showed the total value of UK subsea increased. It rose to almost £7.8bn ($8.6bn) from £7.5bn ($8.3bn) in 2017.

According to the BBC, countries including India, China and Myanmar are beginning large-scale subsea projects that UK companies could explore.

Conlon added: “While oil and gas and renewables remain the largest markets for the UK subsea industry, revenues from other sectors, such as wave and tidal, defence, subsea mining and marine science are on the increase and interest in these, along with the emerging aquaculture sector, is growing.

“The drive towards net-zero presents exciting opportunities to develop solutions that accelerate the energy transition, particularly in carbon capture and storage.”