ITF and SPE sign MoU to improve development opportunities in oil and gas industry

UK-based Industry Technology Facilitator (ITF) and the Society of Petroleum Engineers (SPE) have signed a memorandum of understanding (MoU) to improve global technology development opportunities in the oil and gas industry.

Under the MoU, ITF will gain access to SPE’s network of industry experts, as well as detailed information on the latest technology challenges that have been identified during applied technical workshops conducted by SPE.

SPE will also benefit from the provision of ITF’s roadmap mechanism to identify technology challenges, seek solutions and accordingly speed up implementation through joint industry projects.

ITF CEO Dr Patrick O’Brien said: “ITF and SPE are both driven by our purpose to promote and accelerate efficient and intelligent solutions to the oil and gas industry.

“The MoU will strengthen our already close working relationship with SPE and give more impetus and authority to our members on action to satisfy their technology demands.”

Together ITF and SPE will run combined events or calls for proposals and collaborate with regards to mutual sharing of information with members.

They will also receive an opportunity to jointly promote their events.

SPE chief operating officer Stephen Graham said: “As well as sharing our combined network of companies, developers and academics, the agreement will drive forward our united ambitions to see new and enhanced technology brought to the market faster to ensure the oil and gas industry continues to be profitable and sustainable.”