United Kingdom: Oil industry commits to North Sea technology ///
A total £8 million was committed by oil and gas companies in 2001 toward development of new technologies vital to the future of the North Sea. The funding has been secured through the oil and gas Industry Technology Facilitator (ITF), which promotes development of innovative technology through joint industry projects (JIPs). Last year, approval was given for 30 projects, including two major collaborative programs, which will develop advanced technologies to improve the search for, and recovery of, hydrocarbons on the increasingly challenging UK Continental Shelf. Similar funding is envisaged for new projects in 2002.
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