North Sea technology spending has dropped by 36% since oil crash, says OGA
ByAllister Thomas
R&D spending has dropped by 36%
The amount of money being spent by North Sea operators on research for new technologies has dropped by 36% since the oil price crash.
That’s according to a new report from the industry regulator, the Oil and Gas Authority (OGA), showing that operators spent £289million on research and development in 2014, compared to £185million in 2016.
The OGA’s Technology Insights report shows only a small group of operators – around 11% of respondents to the study – accounted for 85% of this spend.
