The risks and uncertainties associated with bringing a new technology to market are inherently high. There is significant financial investment required to research, develop, test, and commercialise a concept, and there is the ever-present concern that the concept or idea might not work. The way in which the Oil and Gas Innovation Centre (OGIC) works to help companies find appropriate research expertise in the university system in Scotland and to access funding for R&D presents a real opportunity to de-risk R&D.
OGIC Press Releases
In partnership with our sister Innovation Centre, CENSIS (Innovation Centre for Sensor and Imaging Systems), we have created an event for oil and gas and offshore sector companies based in and around Aberdeen to introduce new and emerging sensor and imaging systems technologies that might benefit their businesses.
Following the signing of three new projects, The Oil and Gas Innovation Centre (OGIC) has reached its 40th project target ahead of schedule, with a total investment of over £1.3m in funding for collaborative projects with oil and gas companies and academic expertise in Scottish universities.
Cavitas Energy engaged with OGIC and the University of Strathclyde to develop a downhole deployable device that will produce heated fluid or steam within the wellbore of injection wells, or could be used as a bypass fluid heater in production wells. The device has enhanced oil recovery applications in primarily heavy oil environments. As downhole Enhanced Oil Recovery (EOR) devices utilizing mechanical heating mechanisms are not currently offered within the market, this technology is a unique offering and fits neatly into the oil industry’s requirement for technology innovation.
OGIC and Decom North Sea are hosting a joint event on innovation funding and business/ technology funding.
Subsea Expo is the world’s largest subsea exhibition and conference. Following the success of the previous two years OGIC will again be hosting an innovation zone at Subsea Expo 2018, offering developers and universities a cost effective way to exhibit.
The Industry Technology Facilitator (ITF) and the Oil & Gas Innovation Centre (OGIC) have joined forces to fund and support the development of innovations which could reduce costs, raise production efficiency, and improve safety and environmental performance. OGIC has made £1 million available to support companies with projects that require research and development to be undertaken at a Scottish university. OGIC can fund up to 70% of these costs and ITF can potentially ‘top-up’ financial support if an innovative project engages the interest of its members.
The Oil & Gas Innovation Centre has signed its thirty-first project agreement, which will see the development of a system which will allow heat from subsea pipelines to be converted to DC electrical power. The project is one of four that have recently been agreed, signalling a £230,000 investment from OGIC, and will see companies developing innovative technology with direct applications across the oil and gas industry.