£10.6 million worth of funding has been announced by the First Minister, Alex Salmond, to create a new Oil and Gas Innovation Centre (OGIC). Bringing together academic and private sector partners to create and fast track new, innovative solutions for the oil and gas industry, the Centre will focus beyond day to day issues to address the longer term challenges faced by the industry.
OGIC will link over 2300 oil and gas operators and service companies to 12 Scottish universities, including Heriot-Watt, with over 450 academic staff and researchers working primarily on oil & gas specific technologies.
Funded by the Scottish Funding Council and supported by Scottish Enterprise and Highlands & Islands Enterprise, OGIC will support the industry agenda to increase production and to reduce costs by enabling the delivery of innovative technical solutions.
The initial £10.6 million funding is set to leverage over £26 million of investments from various sources, including industry contributions and through other external funding agencies, within its first five years.
Welcoming the funding announcement, Paul de Leeuw, Chairman of OGIC said:
“We are very pleased to have secured the funding for the new Oil and Gas Innovation Centre. It offers an unique opportunity to stimulate collaboration between the oil and gas industry and the universities in Scotland and this will be a key part of sustaining the oil and gas industry in the North Sea for decades to come.”
Speaking on behalf of OGIC’s academic partners, Professor Dorrik Stow, Head of the Institute of Petroleum Engineering at Heriot-Watt University, said:
“The Oil and Gas Innovation Centre will make it easier for Scotland’s academics to innovate and collaborate with supply chain companies. OGIC will focus Scotland’s academic power onto developing applied, innovative solutions to the oil and gas industry’s key challenges.
“Heriot-Watt, along with its partners in the Energy Technology Partnership, is proud to be a key part in driving OGIC’s progress.”