OGTC, ITF Agree on Merger
The Oil & Gas Technology Centre (OGTC) and the Industry Technology Facilitator (ITF) have agreed to merge to ‘focus and enhance the technology and innovation support for the UK oil and gas industry’, according to a joint statement.
The merger is expected to complete in the second quarter of this year and teams from both organizations will work together to deliver a smooth transition over the coming months. On completion of the transaction, Patrick O’Brien will step down from his role as chief executive of ITF.
Ongoing ITF projects, which include a strong portfolio of subsurface technologies, will be integrated with the OGTC’s solution centre program. Existing ITF members will be closely involved in this process.
The OGTC, in dialogue with its members, the Technology Leadership Board and other relevant stakeholders, will consider industry demand for the creation of a subsurface solution centre later this year.
“Our merger with the Oil & Gas Technology Centre is a positive move. It will focus the collective expertise of both organizations, providing the high-quality technology and innovation support the industry needs, under the Oil & Gas Technology Centre brand,” O’Brien said in an ITF statement.
Colette Cohen, OGTC CEO, said the combination of the companies will create a strong proposition for the industry and a platform to harness the power of technology to unlock the full potential of the UK North Sea.
ITF has almost 20 years of experience facilitating technology development for the oil and gas industry. The OGTC was established as part of the Aberdeen City Region Deal in February 2017.
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