Petroleum Development Oman (PDO) has joined the International Technology Facilitator (ITF), a not-for-profit agency aimed at increasing cooperation in the upstream oil and gas industry.
PDO joins regional national oil companies (NOCs) such as Saudi Aramco and the Kuwait Oil Company as members of the organisation, which facilitates joint ventures of oil companies to share research and development costs and manpower.
The ITF concentrates on the upstream sector in hydrocarbons and PDO has said it is interested in using the organisation to further research into enhanced oil recovery (EOR) techniques.
“[ITF] has only had a regional office since April 2011, but we are hoping to create a major hub in the Middle East,” says Ryan McPherson, regional director for the ITF. “It makes sense, because this area is the world’s largest oil supplier and has technology needs that may differ from other areas.”
Member of the ITF share the funding for new technology projects through joint industry projects (JIPs). All developers retain full intellectual property rights.