ITF, the industry technology facilitator for the global oil and gas industry, is today opening a new base in Houston.
The news comes as thousands of leading figures from the energy business gather in the US city for the opening day of the world’s top industry show – the Offshore Technology Conference.
Aberdeen-based ITF will be encouraging more proposals for joint industry projects from organisations in North America, with up to 100% funding available for innovative oil and gas solutions.
The facilitator has set a target of investing at least £9million into technology projects in the region by 2015.
A not-for-profit organisation, ITF is owned by 26 of the largest operator and oil services companies in the world. They collaborate to fund ground-breaking technology solutions that address global industry challenges.
More than £3million has been distributed to US and Canadian research institutes and companies through ITF so far, with targets to increase joint industry projects by 25% in the next four years and invest £600,000 this year alone.
Dorothy Burke, operations director at ITF, said: “Through building links with North America’s leading academic institutes and cutting-edge technology companies, significant funding can be provided to deliver game-changing technologies.
“The collaboration model is proven to work. 100% funding is available for the right solutions, and developers have direct access to our global membership.”
ITF said its new office in the US would provide a strategic meeting point and a full-time manager will be in place next year.
The majority of ITF members have a base in Houston, with Marathon Oil the most recent to join from North America.
ITF also intends to increase its total membership to 40 organisations by 2015.
Mrs Burke added: “The Gulf of Mexico and onshore provinces are challenging and our members are collaborating to reduce cost, share risk and deliver more technologies.
“We will be issuing a number of calls for proposals throughout the year to tackle these challenges.”
ITF’s international expansion plans include a base in Abu Dhabi which opened in April and two further offices opening in Perth in Australia and Kuala Lumpur, Malaysia, later this year.
There are a number of other important regions for the industry, including China, South America and the former Soviet Union, which ITF said it would monitor to enable market development at the right time.
UK companies will be urged to seize business opportunities rapidly emerging in Brazil’s oil and gas sector at a breakfast tomorrow in Houston.
The event, which will be chaired by Subsea UK board member Patrick O’Brien, features key industry speakers who will be giving an insight into the country’s economic prospects.
Mr O’Brien, who is also group director of strategic business and marketing at Wood Group Kenny, said: “Brazil is fast becoming a very exciting oil and gas province with very real prospects.
“It is vital that UK companies and organisations harness these opportunities by capitalising on their world-class expertise, industry know-how and innovation.
“But they must act now to take advantage of this potentially very lucrative market which boasts South America’s second largest oil reserves, next to Venezeula, with hotspots including the Santos, Campos and Espirito Santo basins as well as major pre-salt fields.
“Industry collaboration and developing long-term relations in Brazil are key for the UK if it is to seize a significant share of the region’s prospects.”
The breakfast is being organised by UK Trade and Investment.
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