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NCC attends Oil and Gas Technology Centre opening
On Friday 10th February, a new and important institution in the UK's oil and gas industry opened its doors for business. With extensive coverage from Scottish and UK media - including extensive coverage on BBC TV and Radios 4 and 5 Live - the Oil and Gas Technology Centre (OGTC) was officially launched.
The sector has been rocked by a halving of the price of oil & gas over the past three years, which has resulted in significant job losses and the delay or cancellation of projects. As recently as 2013, over £13 billion was invested in capital and opex projects in the North Sea. This investment dwarfs that given to any other UK manufacturing sector but this is almost invisible to the majority of the population as it happens up to 100 miles offshore or on and below the seabed.
The OGTC has secured £180m of Scottish and UK Government funding which, when matched by industry, will provide around a third of a billion pounds to support innovation and the objectives of the oil & gas strategy, which aims to maximise the economic returns from the UK's hydro carbon reserves. In practice this means dramatically cutting the cost of drilling new wells, extending the life of expensive assets, finding ways of accessing 'small pools' economically and using digital technologies to make the industry more efficient.
The opening day saw primary school children suggesting ways of addressing the industry's challenges, presentations to the industry's leaders and those from other organisations including Universities and the High Value Manufacturing Catapult. In some respects, the OGTC mirrors the Aerospace Technology Institute (ATI) and the Automotive Propulsion Centre (APC) and it is fitting that the guest speaker was Ian Constance, CEO of the APC, who explained how the UK automotive industry has been transformed by innovation and adopting best manufacturing practice.
Above: Colette Cohen, CEO of OGTC, welcoming guests and speaking about the huge challenges and opportunities facing the industry, including a reference to the role composites can play, addressing the industry's needs for light, strong and corrosion resistant materials.
To find out how the NCC and the OGTC centre can help you meet your oil and gas requirements, contact email@example.com.
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