The Technology Strategy Board (TSB) is looking for projects that will ultimately help retain, anchor and develop the oil and gas supply chain in the UK to deliver sustainable jobs and economic growth in the long term, against increasing competition from other regions.
The TSB is to invest up to £1m in feasibility studies to stimulate innovation and accelerate the development and deployment of new technologies likely to enhance production and asset reliability within the oil and gas sector.
The funding will be invested in feasibility studies that may lead to their future development and application in the oil and gas sector. The TSB is seeking applications that are led by SMEs, preferably partnering with larger organisations already operating in the sector – or looking to do so – and who are able to take concepts to market quickly.
Feasibility studies will focus on the following areas: increasing oil and gas recovery efficiencies improving asset integrity and extending the life of offshore installations.
This may be achieved through: further development of existing technologies already in the sector transfer of existing technologies from other sectors, which may include, but are not limited to, ICT, power generation, sensors, advanced materials and manufacturing application of novel or completely new technologies within the sector.
It is expected that projects will, through further development, be able to deliver cost reduction and efficiency improvements while contributing to environmental sustainability in the sector.
The competition opens on 25 June 2012
and the deadline for registration is noon 01 August 2012.
Developing innovation in the oil and gas sector