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ITF and SPE sign MOU to accelerate technology development

Monday, October 17, 2016

The Industry Technology Facilitator (ITF) has signed a memorandum of understanding (MOU) with the Society of Petroleum Engineers (SPE) to share and enhance global technology development opportunities in the oil and gas industry.

ITF CEO, Dr Patrick O'Brien, joined Stephen Graham, Chief Operating Officer, SPE, and Janeen Judah, 2017 SPE President, Chevron, at SPE's Annual Technical Conference and Exhibition in Dubai on Wednesday (28 September) to discuss actioning the agreement.

The MOU will allow ITF access to SPE's strong network of industry experts as well as detailed information on the latest technology challenges identified during SPE's Applied Technical Workshops. In turn, SPE will benefit from the provision of ITF's established roadmap mechanism to identify technology challenges, seek solutions and fast track implementation through joint industry projects.

Opportunities to work together could include running combined events or calls for proposals, mutual sharing of information with members, as well as joint promotion of each organizations' events.

O'Brien moderated a regional interest special session at ATCE on 'Getting the most from mature fields' on Wednesday (28 September).

'ITF and SPE are both driven by our purpose to promote and accelerate efficient and intelligent solutions to the oil and gas industry,' O'Brien said. '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.

'We are looking to create more strategic MOUs with other organizations in the near future which similarly will allow us to formalise existing relationships and ongoing joint activities.'

Graham said he is extremely pleased to secure this agreement with ITF.

'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,' he said.

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