Technology Strategy Board to invest £5 million in technology innovation for oil and gas recovery

27 Jul 2009

The Technology Strategy Board is to invest nearly £5 million in new research and development to find innovative technology solutions to help in maximising recovery of the UK's hydrocarbon resources.

The investment will help to finance 10 industry-driven projects, which will have a total value in excess of £9 million. They will focus on innovative technologies that tackle the challenge of maximising the recovery of hydrocarbon reserves from the harsh environment of the UK Continental Shelf, with significant benefits over existing solutions, whilst improving the environmental performance of oil and gas operations.

Hydrocarbons will still play an important role in the UK's fuel mix in the short and medium term, and maximising the recovery of indigenous resources can contribute to security of supply issues, in the face of increasing oil and gas prices. Sustained levels of activities in this area will contribute to maintaining a UK leadership position and skills in this sector. Ends.

For full press release including project discriptions, click this link - Technology Strategy Board to invest £5 million in technology innovation for oil and gas recovery

 

Last updated on Monday 02 August 2010 at 12:39

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