Funding for oil innovation announced

Delegates at the Technology Showcase in Aberdeen today (4 March) heard about millions of pounds of funding that is available for new innovations through two funds.

Innovate UK’s funding competition for cleaner, more efficient conventional fuels, opened this week. A total of £6 million is available to support new technologies that improve efficiency, reduce cost and minimize the environmental impact of coal, natural gas and oil.

Of this fund, £4 million will be set aside for business-led, collaborative research and development projects ranging in size from £250,000 to £1.5 million. £1 million will be available for smaller-scale feasibility studies. An additional £1 million is available through the National Environment Research Council (NERC) for the academic element of projects that fall within NERC-remit and support and focus on translation of existing research outcomes to meet industry issues and challenges.

Dr Derek Allen, Lead Technology, Energy at Innovate UK said: “We are actively seeking innovations that will improve efficiency, reduce cost and minimize environmental impacts, which could be anything from advanced fossil fuel process technologies to carbon capture and storage or new approaches to decommissioning. We anticipate interest from the oil and gas sector as well as power generation and energy intensive industries.”

The deadline for expressions of interest for collaborative Research and development, for which there is a two-stage process is noon on 15 April. The deadline for feasibility studies is noon on 10 June.

NERC is also planning a separate five year £5 million Oil and Gas Innovation Program with decommissioning as one of the key themes. A workshop will take place in Aberdeen on 1 Wednesday April bringing industry, academia and government together to explore the key challenges in managing the environmental impacts of infrastructure and assessment of decommissioning options.

The Technology Showcase at AECC organized by the Industry Technology Facilitator (ITF) in partnership with Oil & Gas UK focused on the technologies needed to tackle oil and gas cost and efficiency challenges.

Hundreds of people attended the conference and exhibition to hear updates from operator, service companies and government on current challenges and opportunities and from the developer community on latest innovations.