Investors in People | Gold

ITF to launch US oil and gas technology cluster for operators to share costs and risks of bringing new ideas to market

ITF, the industry technology facilitator for the global oil and gas industry, is getting set to launch a cluster group for the US that will focus solely on solving major technology challenges hampering exploration and production.

ITF member Shell has agreed to host the first event at its Houston offices as ITF urges other operators to get behind the initiative that will bring companies together to share the risks and costs of bringing new technology to market in North America.  

Announcing the plans at the Offshore Technology Conference in Houston, ITF wants to secure $15 million from the region 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 want operators with interests in the US to get behind collaboration through this dedicated cluster group. 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 $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% 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% funding and unlike other programs, we ensure that they retain full intellectual property rights.”

ITF is a not-for-profit organization headquartered in Aberdeen, Scotland and wholly owned by its membership of 30 operator and service companies.

ITF is exhibiting at OTC on the Scottish Pavilion, stand no. 2175/7.

Share this article: