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T he turn of the year has brought with it a renewed sense of hope and vigor to the subsea industry, though there are still plentiful reminders of the fis- cal pain wrought by a global economic downturn. The eco- nomic crisis — as painful as it was and remains for large sec- tors of our economy — was a process that forced upon cor- porate entities, government agencies and institutions of higher learning alike the virtues of becoming ‘lean and mean.’ While I admit it is a safe assumption that no time soon will we see a drastic expansion of budgets for subsea exploration, it is a similarly safe statement to point out that opportunities in this market abound, as the world collectively seeks to contiually improve and make more safe and efficient the way in which it works underwater. Last year’s oil well blowout and disaster nearly one mile deep in the Gulf of Mexico exposed, in stark terms, the current capabilities and limitations of these technologies, but at the same time brought to the forefront the intrinsic value of the work you do every day.

I just returned from a swing through the Middle East which combined work for me in both the subsea and maritime sectors. While this region was hammered particularly hard over the last few years, many projects are coming back with a vengeance, with billions pouring into new energy projects, both traditional oil & gas as well as renewable, and a long list of port and facility projects that all rely on the various talents of the subsea industry to bring them quickly and efficiently from start to finish. Look for a special series on these Middle East business opportunities start- ing in the next edition.

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