The oil industry’s most pressing technology challenges that need to be tackled as a priority in 2011 is coming under spotlight at an ongoing gathering of major global operators and service companies in Aberdeen this week.

Members of ITF, the oil and gas industry technology facilitator, will travel from across the globe including USA, Asia Pacific, the Middle East and Europe for the two day Annual Technology Conference today (November 30) and tomorrow.

ITF is celebrating its highest membership to date with 27 operator and service companies and the large majority are expected to attend including BP, Kuwait Oil Company, Statoil, Total, Maersk, Tullow and the most recent addition, US based Marathon.

The not-for-profit organisation is tasked with driving innovative solutions to support technology development and implementation through joint industry projects funded by its members. ITF has already brought 151 new technologies to market and secured more than GBP50 million ($77.75 million) investment from its member companies.

The conference brings members together to determine and prioritise the global technology challenges facing the industry. These ‘technology gaps’ will become ITF’s focus for 2011 and will be announced in December.

Neil Poxon, managing director of ITF said: “Technology development is a growing priority for the oil industry and we expect there will be serious debate about exactly what those most important challenges are for 2011.”

“An impressive portfolio of oil organisations will be attending along with key industry bodies and Government and the conference provides a platform for frank discussion about the role new technologies have in safely extracting remaining resources and locating new fields. We will also be reviewing some of the big successes of the year and exciting new projects under development,” he added.

ITF will also launch its business plan, detailing ambitions for future membership growth in key regions including Houston, the Middle East and Asia Pacific and building its network of technology developers.

“Our strategy for 2011 will continue to have a strong international focus and we will be targeting key regions such as the U.S, Middle East and Asia Pacific in order to continue to grow our portfolio of members and build more relationships with technology developers,' Poxon continued.

'The oil and gas community recognises that our collaborative approach to funding technology development brings significant cost savings and helps to ensure the success of new game-changing technologies,” Poxon added. – TradeArabia News Service