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New innovations critical to the oil and gas industry

Industry Insights

New innovations critical to the oil and gas industry

The Achilles FPAL Industry Outlook Survey revealed that some suppliers were frustrated at the lack of opportunity to discuss the capabilities of the new technology they can offer the industry. Ian Philips, chief executive of the Oil and Gas Innovation Centre, believes that technology innovation will be crucial to UKCS success.

Philips added: “Technology innovation is going to play a critical role in the next chapter of oil and gas recovery from the UK Continental Shelf (UKCS) and in driving export growth in our UK-based supply chain.”

Embracing new concepts is arguably more important than ever as the industry begins to get back on its feet according to Phillips, particularly as the UK’s new-look Oil and Gas Authority published its new technology strategy in September 2016. The strategy focusses on the need for organisations in the sector to strive for greater technical innovation.

The strategy’s three aims are:

  1. To keep the UK oil and gas sector’s tech priorities aligned and focused on generating value.
  2. To support the new Oil and Gas Technology Centre – which has been awarded £180 million of government funding for the next ten years – in developing, testing and deploying new technologies.
  3. To oversee tech innovation throughout the industry, including performance benchmarking and knowledge sharing.

Philips continued: “Technology has a key role to play in reducing production costs, increasing production efficiency, supporting exploration, and ensuring that decommissioning is carried out effectively.

“Everyone involved in the industry must remember that the rewards of a greater openness to innovation will be even higher when the oil price recovers.”

How suppliers can promote their innovations

Whilst suppliers may sometimes find it difficult to have constructive discussions with customers about new innovations, suppliers can promote their innovations to the European oil & gas industry through the Achilles FPAL community.

The pre-qualification questionnaire includes a dedicated section on ‘Innovation and Improvements’. Suppliers are encouraged to enhance their profile in this area to demonstrate their capabilities to the buyers.

This new feature is just one of the many ongoing improvements that we’re currently making to the Achilles FPAL platform to support the industry and encourage innovation within the supply chain.

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