The application of pulsed photoacoustics to the study of liquids at pressures of up to 350 bars is discussed. The design and development of an in-line sensor for the subsea monitoring of crude oil concentrations in water is reported. Crude oil detection sensitivities at parts per million concentrations were achieved with prototype instrumentation. A comparison of experimental results and a theoretical prediction of the pressure dependence of the pulsed photoacoustic response from water is outlined. The results demonstrate that existing models that describe pulsed photoacoustic generation in liquids are applicable to high-pressure conditions.