THE Oil & Gas Innovation Centre (OGIC) has officially launched in Aberdeen, expecting to exceed its target of supporting 100 technology-development projects in its first five years.
Chief executive Ian Phillips, who was appointed to the role in August, made the prediction and explained that OGIC provides a "one-stop shop," set up to provide the oil and gas industry with single access to the knowledge and capabilities of Scottish universities.
He stressed that OGIC is demand-led, and arose from the need to partner innovative ideas with best-in-class academic resource, connecting about 2,300 oil and gas operators and service companies with 12 Scottish universities and more than 450 academic staff and researchers.
Mr Phillips also said the innovation centre already has one project approved, with about half a dozen in the pipeline and having been approached by more than 50 organisations. "The signs are good," he said regarding its outlook.
As for its planned support for at least 100 projects, OGIC said these "will share the common characteristics of being genuinely innovative and targeting solutions for real issues in the industry" and many will have North Sea applications and export potential.
Additionally, OGIC is funded by the Scottish Funding Council and can part-fund and provide management support to projects with the potential to deliver technology solutions to the exploration, production and decommissioning challenges facing the UK Continental Shelf.
Furthermore, its priority areas include improving exploration outcomes, enhanced oil recovery and shale gas exploitation, with a strong focus on innovation.
Mr Phillips said innovation is now a major priority for the oil and gas sector "to maximise return from existing assets and to bring new, more challenging reserves into production".
He also said: "We aim to drive the delivery of innovations that will contribute to the future success of the North Sea and that will create new export opportunities for our supply chain."
Speaking at the launch, hosted by Hydro Group, minister for energy, enterprise and tourism Fergus Ewing said the centre will help maximise hydrocarbon-resource recovery.
"Only through innovation will we reap the maximum value and ensure that the oil and gas sector continues to play a positive role in the Scottish economy," he added.
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