Industry Technology Facilitator (ITF), an oil industry trade organization, and the Oil & Gas Innovation Centre (OGIC) have teamed up to fund and support the development of innovations in the industry.
Namely, OGIC has made £1 million ($1.25 million) available to support companies with projects that require research and development to be undertaken at a Scottish university. Such projects could reduce costs, raise production efficiency, and improve safety and environmental performance, the duo said in a joint statement on Thursday.
The statement further said that the OGIC could fund up to 70 percent of these costs and ITF can potentially ‘top-up’ financial support if an innovative project engages the interest of its members.
Also, accessing Scottish university capability and industry expertise can help developers get their innovations closer to market, the du
Ben Foreman, ITF Technology Manager, said: “This is an exciting opportunity for technology developers to progress their ideas from the desktop towards the marketplace. 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.”
Applications are invited for all types of innovation that will benefit the oil and gas industry. The developer can be of any size and from any country. Supported innovations must involve research and/or development work in a Scottish university. The closing date for applications is April 30, 2017.
Ian Phillips, Chief Executive of OGIC, added: “This collaboration with ITF offers developers an opportunity to access OGIC funding and the engagement of ITF industry members. Our complementary offerings will support the development of market relevant products and services.
“Successful applicants will benefit hugely from the top quality research and development expertise on offer from Scottish universities and will be fully supported throughout its progression by OGIC, ITF, and its members.”