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O&G technology solutions group launched

01st May 2012

Better collaboration will help US oil and gas companies overcome technological hurdles encountered in accessing harder-to-reach reserves, says company at this year’s OTC.

ITF announces knowledge sharing initiative at OTC

Industry Technology Facilitator (ITF) will launch a cluster group for the US that will focus solely on solving major oil and gas technology challenges hampering exploration and production.

ITF member Shell agreed to host the first event at its Houston offices as ITF urged other operators to get behind the initiative at this month’s Offshore Technology Conference (OTC) in Houston, Texas. ITF believes the group will bring companies together to share the risks and costs of bringing new technology to market in North America.

The organisation hopes to secure USD 15 million in the US by 2015 for groundbreaking solutions to problem areas such as seismic imaging and unconventional reservoirs.

The cluster group will bring operator and service companies together to identify common technology challenges within the region and then seek commitment on collaborating to overcome them.

Neil Poxon, managing director of ITF said: “We are confident that it will speed up the development of technologies that are sorely needed to support the capture of harder-to-reach reserves. The ITF model has been proven around the world and this targeted approach to technology development will benefit the industry as a whole as well as academia and companies with the brightest ideas.”

The first event will take place in September at Shell’s Houston offices with presentations from major operators including Total’s Wafik Beydoun, President and CEO E&P Research and Technology USA.

Around USD 6 million has been distributed to US and Canadian research institutes and companies through ITF so far. ITF has launched more than 180 JIPs globally with targets to increase projects in the US by 25 per cent over the next three years.

Neil Poxon added: “Our collaboration model for funding is proven to work and following our strategy to set up bases in key international hubs, we are working with our members to rapidly target the specific challenges that each of these regions faces. Technology developers can receive up to 100 per cent funding and unlike other programs, we ensure that they retain full intellectual property rights.”

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