An event being held in Calgary this week will showcase the technology “needs and gaps” of the UK North Sea.
The Petroleum Technology Alliance Canada (PTAC) is hosting the presentation, aimed at enticing firms to the UKCS.
It will showcase the progress made in efficiencies and competitiveness since the oil downturn, highlighting the Wood Review, and the work of the Oil and Gas Authority.
Leaders of technology firms specialising in decommissioning, well construction, small pools and asset integrity are being urged to join the event, which takes place on Wednesday.
The event will show that while there is still up to 20 billion barrels of oil recoverable, advances in technology are needed to “further revitalise the basin”.
A statement from PTAC says: “Considerable progress has already been made to improve the competitiveness of the UK North Sea through the implementation of the Wood Review, the focused work of the Oil & Gas Authority, industry dedication and the favourable taxation changes.
“While production costs and unit operating costs are down and production efficiency has increased, there is a strong drive to continue advances in these areas and further revitalize the basin.
“The UK has technology demands for economically efficient EOR, digital transformation, decommissioning, well construction, small pools and asset integrity.
“To encourage and support the adoption of technology, the UK has some world leading technology programs.”
