A not-for-profit oil and gas industry organisation is celebrating its 10th anniversary at Offshore Europe.
Aberdeen-based ITF, the oil and gas industry technology facilitator, works with equipment developers and its members to identify exploration and production (E&P) technology needs and support the development and implementation of new technologies into the industry.
ITF has revealed that, since its inception in 1999, it has delivered more than 130 collaborative and revolutionary technology projects to the market.
Owned by 22 major operator and service companies, ITF has also been responsible for securing direct member funding of more than £40million – with its current portfolio consisting of 39 projects linked to an additional £20million of direct member investment.
ITF managing director Neil Poxon said: “We are using the anniversary as a chance to demonstrate what we have achieved in the last 10 years, what we have planned for the future and the benefits ITF brings to the sector.
“The UK oil and gas industry has a reputation for meeting the challenges faced from harsh operating conditions and developing workable solutions to overcome these. ITF will ensure this continues and we are already looking ahead at the different challenges the industry will face in the next 10 years.
“The subsea sector is one area of particular importance.”
As part of ITF’s 10-year milestone, the organisation has commissioned a research study through Aberdeen University.
This is designed to demonstrate and underline the impact ITF has had on technology development and delivery for the global oil and gas industry in the past decade.
Led by oil-industry expert Professor Alex Kemp, the research study will examine oil and gas projects supported through ITF to rate their effectiveness in UK waters and, where relevant, overseas markets.
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