OGTC Launches Fund to Find New Digital, Decommissioning Technologies
The Oil & Gas Technology Centre has launched a $2.6 million (GBP 2 million) fund to find new digital and decommissioning technologies.
On the digital front, the OGTC said it is looking for digital analytics approaches, such as machine learning, ‘that can rapidly organise, distil, screen and assess data from oil and gas wells’.
“Often held in different formats and of variable quality, the data could lead to new discoveries, help extend field life and maximize economic recovery,” an OGTC representative said in an organization statement.
As part of its decommissioning call, the OGTC is looking to address the inefficient and costly maintenance of original power generation and utilities (aka ‘life support’ systems) during decommissioning activity.
In an effort to resolve this, the OGTC wants integrated, modular, environmentally friendly and cost-effective life support solutions that create flexibility in how and when facilities are decommissioned.
In a series of short videos posted by the OGTC on YouTube, Centre representatives emphasized that companies from both inside and outside the oil and gas industry are being encouraged to participate in the calls.
The deadline for digital and decommissioning submissions is January 26 and February 16, respectively. Each call has up to $1.3 million (GBP 1 million) to invest in a portfolio of projects that can ‘unlock the full potential of the UK North Sea’.
Submissions will be evaluated against a range of criteria including value creation, scientific principles, time, cost and risk reduction. Successful applicants will receive professional guidance, funding, and support to develop their ideas towards the next stage of development.
“We believe that sophisticated analytics techniques, such as machine learning, could help identify remaining oil and gas accumulations and consequently impact the extent of life of nearby fields and maximize economic recovery in an area,” Steve Roberts, digital transformation solution centre advisor, said in an organization statement.
Susi Wiseman, decommissioning solution centre project manager, acknowledged the life support issues faced by the sector.
“Companies in the oil and gas industry have identified recurring difficulties with life support systems in recent and current decommissioning programmes resulting in low flexibility, lost time, cost overruns and inconvenience to offshore teams,” Wiseman said.
“Alternative life support systems could help to significantly reduce the cost of decommissioning, and improve efficiency and productivity,” she added.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.