Investment in new technology development by the Oil and Gas Innovation Centre (OGIC) has hit £3.8 million after the Aberdeen-based facility signed its 75th project.
Ian Phillips, chief executive of the centre, opened in 2014 to encourage collaboration between the industry and academia, said the milestone demonstrated an appetite to develop solutions to challenges facing the sector.
In a £330,000 investment, the OGIC is currently finalising agreements on five new technologies, all of which it said have the potential to cut operational costs and improve efficiency.
Mr Phillips said: “We are very excited to have signed our 75th project agreement, reaching this milestone highlights the willingness there is in the industry to invest in new technology and take part in research and development.
“The five new projects we have recently supported are all vastly different but demonstrate that there is an appetite across the industry to find innovative solutions to challenges facing the sector.
“Each of these projects has the potential to result in real cost savings for companies and emphasises the range and scope of projects which OGIC can support.”
The latest projects have seen Technip FMC Umbilicals working with Aberdeen University, Weir Group joining forces with Heriot-Watt, and Balmoral Group with the University of Edinburgh. Getech Group and N-Sea are involved in research with Glasgow and Strathclyde universities respectively.
