The Industry Technology Facilitator (ITF) and the Oil & Gas Innovation Centre (OGIC) have joined forces to fund and support the development of innovations which could reduce N. Sea oil and gas exploration and operational costs and improve safety and environmental performance.
OGIC has made £1 million available to support companies with projects that require research and development to be undertaken at a Scottish university. OGIC can fund up to 70% of these costs and ITF can potentially ‘top-up’ financial support if an innovative project engages the interest of its members.
This will help developers get their innovations closer to market. Closing date for applications is 30 Apr 2017.
Ben Foreman, ITF Technology Manager, said: “This is an exciting opportunity for technology developers to progress their ideas from the desktop towards the marketplace.
“The oil and gas industry has undergone tremendous changes over the past few years and new technology is crucial to see it become more efficient, sustainable and safer in the future.
“Our recent Technology Showcase event challenged the oil and gas industry’s inherent ‘risk-averse’ culture and we now see a fresh focus and commitment to progress innovation. Financial support and knowledge from ITF, OGIC and Scottish universities is invaluable to push forward those solutions and put them to work for the benefit of the industry.”