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There is a continued challenge within the oil and gas sector to find and produce energy to meet global energy demands, whilst facing the challenges of easy oil decline and difficult to explore resources in areas of limited accessibility. The top three drivers of research are improving operational efficiency, improving safety and reducing costs. These must also take into consideration tighter environmental and safety standards.
Some key areas of research include subsurface imaging; hydrocarbon production and reusing produced water; carbon capture and sequestration; well injection; water management; implications of nanotechnology; subsea production and development of remote technology for deepwater facilities. R&D claims have been made for activities undertaken during the exploration, appraisal, development (including front end engineering design (FEED)), and production phases of a project.
Examples of Eligible R&D activities:
Expenditures can include wages, third-party contractor cost (contractor performing R&D in EEA), materials, machinery, equipment, and overheads.