ITF’s Global Call for Subsea Technology Proposals Unveiled
29 April 2009
The Industry's Technology Facilitator (ITF), is issuing a global call for proposals that calls on the international development community to come forward with proposals that could mean long subsea long tiebacks become an industry reality.
An organisation owned by 21 major operator and service companies, ITF will be unveiling the details of its latest call for technology proposals – the specific requirements of which came from a theme day hosted by ITF to understand the industry's specific needs in this area.
The advancement of subsea long tiebacks is ultimately set to provide the industry with the ability to fast track field development projects. ITF and its members believe that increased production at lower cost, over longer distances and in deeper waters could become a reality if the industry had access to new technology to advance long subsea tiebacks.
ITF identifies exploration and production (E&P) technology needs and facilitates the development of new technologies by establishing JIPs with up to 100% funding available for successful, innovative technology proposals.
To date ITF has been responsible for delivering over 135 collaborative and revolutionary oilfield technology projects with direct membership funding in excess of £39 million. ITF's current portfolio consists of 44 ongoing projects linked to £20 million of member investment.