Technology Street
Find out how ITF is facilitating innovation & technology developments in the global oil, gas and energy industry.
Meeting of minds as oil and gas majors gather to set 2012 technology challenges
Senior figures from many of the world's largest oil and gas companies will gather in Aberdeen this week to set their priorities for technology development in 2012 to help secure remaining reserves.ITF is hosting its Annual Technology Conference (ATC) tomorrow at the Marcliffe Hotel. Companies from around the world including the US, Middle East and Asia Pacific will gather to put forth their industry expertise and insight to decide the technology challenges the organisation will tackle next year.
The majority of ITF's global members are expected to attend.
Government bodies and non-member companies will also be in attendance to develop an industry-wide perspective on the issues that must be addressed. Organisations such as Oil and Gas UK and the Industrial Power Association will be present at the event which will set the agenda for technology progression.
Neil Poxon, Managing Director of ITF said: "The changing landscapes of the oil and gas market places even more importance on the cultivation of new technology. Pioneering solutions are essential to maximise oil and gas production and make marginal and unconventional prospects economically viable. Senior figures across all facets of the global oil and gas industry are attending the event which will provide an open and in depth debate about the technology gaps that need to be addressed.
"We are looking at this on an international scale to maximise worldwide collaboration and solve industry wide issues. Our approach is to collate these international challenges and foster strong working partnerships amongst all operators and service companies from this initial meeting through to the sponsorship of joint industry projects (JIPs). To enhance our international presence and be able to deliver our unique process in key oil and gas regions, we have recently established offices in Houston, Perth (WA), Kuala Lumpur and Abu Dhabi."
ITF has invested more than £60 million in the funding of new technology developments from early stage JIPs through to field trials and commercialisation. With 173 JIPs launched to date, ITF aims to secure a further £50 million to launch 40 JIPs per year by 2015.
Poxon continues: "We expect that there will be lively debate on recurring themes that are concerning industry such as enhanced oil recovery and unconventional resources, however other areas of interest which are likely to be discussed include; subsea processing, asset integrity, drilling, plug and abandonment, and low permeable reservoirs. Although these are by no means confirmed as we expect the discussions on the day to raise further technology challenges. Once the challenges are decided, each will be brought forward with a focused workshop, followed by the issue of calls for proposals to seek out the game-changing solutions which will take us into the next age of oil and gas."
Using a unique collaboration model, ITF acts as the facilitator between its major operator and service company members and industry to bring novel solutions to the oil and gas industry. ITF issues a number of calls for new technology proposals each year based on the challenges set by its membership at the ATC.
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