Senior figures from many of the world’s largest oil and gas companies will be in Aberdeen this week to set their priorities for technology development in 2012 to help extract reserves.
ITF, the technology facilitator for the global oil and gas industry, is hosting its annual technology conference on Thursday.
Firms from around the world including the US, Middle East and Asia Pacific will gather at the Marcliffe Hotel to help decide the technology challenges the organisation will tackle next year.
The majority of ITF’s global members are expected to attend including BP, Shell, Statoil, Chevron, Woodside, Marathon and Aramco Services Company.
Government bodies and non-member companies will also be there to develop an industry-wide perspective on issues that must be addressed.
ITF is a not-for-profit organisation, owned by its operator and service company members, that drives the development and implementation of groundbreaking technology.
Funding joint industry projects through its members, ITF allows developers to receive up to 100% funding for their innovative ideas.
Neil Poxon, managing director of ITF, said: “The changing landscapes of the oil and gas market places even more importance on the cultivation of new technology.
“Pioneering solutions are essential to maximise oil and gas production and make marginal and unconventional prospects economically viable.
” Senior figures across all facets of the global oil and gas industry are attending the event, which will provide an open and in-depth debate about the technology gaps that need to be addressed.
“We are looking at this on an international scale to maximise worldwide collaboration and solve industry-wide issues.
“Our approach is to collate these international challenges and foster strong working partnerships amongst all operators and service companies from this initial meeting through to the sponsorship of joint industry projects.
“To enhance our international presence and be able to deliver our unique process in key oil and gas regions, we have recently established offices in Houston, Perth in Australia, Kuala Lumpur and Abu Dhabi.”
ITF has so far invested more than £60million in the funding of new technology developments.