ITF is a not-for-profit company jointly owned by 23 major operator and service companies, which gives funds to develop innovative new technologies for its members. Currently they are looking for technology developers to come forward with proposals to tackle issues associated with tight gas, shale gas, coal bed methane (unconventional resources) and enhanced oil recovery (EOR). ITF established what technological gaps needed filling through two technology challenge workshops, which were held in Amsterdam in March.
ITF has the ability to obtain up to 100% funding for innovative technology development projects that have the potential to address identified technology challenges.
Novel technology that addresses the challenges surrounding unconventional resources is deemed crucial by the international oil and gas community. The advancement of technologies used on these developments will ultimately increase the ability to access these often deep, and difficult to reach hostile fields.
Innovative technology to tackle the challenges around EOR is also being sought as the industry finds itself operating in increasingly mature fields as well as facing added operational costs as fields become larger with installations that have high capex, opex, and technical limitations.
ITF’s operations director David Liddle explains, “Key technology drivers identified centre on the desire to produce fields in a more cost effective and efficient manner. Unconventional gas resources such as tight gas, shale gas and coal bed methane represent a vast, yet under developed global resource that requires increased exploitation by the industry. Innovative technology that can make these fields accessible, productive and cost-effective is therefore critical.”
“Using EOR, 30-60% or more of the reservoir’s original oil can be extracted, compared with 20-40% using primary and secondary methods. Delivering new and improved methods of oil recovery through innovative technology must and will play a key role in future energy supply.” Mr Liddle added, “The expectation is that advances and improvements in technologies within these specific areas will ensure growth and cost effectiveness of these sectors in the future.”
Mr Liddle added, “Conventional methods of technology are being increasingly challenged across the entire spectrum of the oil and gas industry as the community strives to maintain operational efficiency and cost effective productivity in newly developed fields such as those that hold unconventional resources. The industry’s needs surrounding EOR are also complex and multifaceted however we are certain that increased hydrocarbon recovery will be obtained through continued development of creative technology.”
ITF press release.