OTC: ITF brings JIP model to Houston

Offshore staff

HOUSTON -- ITF, the industry technology facilitator for the global oil and gas industry, has opened a new base in Houston.

The organization hopes to invite more proposals for joint industry projects from groups and companies in North America, with up to 100% funding available for innovative oil and gas solutions. ITF’s target is to invest at least $15 million in technology projects in the region by 2015.

ITF is a not-for-profit organization owned by 26 of the world’s largest operators and oil services companies. They collaborate to fund new technologies that address global industry challenges.

This has led to distribution of over $5 million to US and Canadian research institutes to date.

The new office is on Post Oak Boulevard. Most ITF members have a base in Houston, with Marathon Oil the most recent to join from North America.

ITF’s members have identified unconventional reservoirs as a critical challenge. A technology workshop was staged in Houston last month to identify technology gaps.

Requirements identified included: development of a simulator for unconventional reservoirs; up-scaling and a workflow for multi-scale modeling; optimized hydraulic fracking/economics; long-term reservoir surveillance; in-situ stress measurement; and improved understanding of rock and fluid physics to optimize production.

05/03/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...