1. Creating a culture of innovation
Colette Cohen
Chief Executive Officer
August 2016

2. Every 1bn barrels produced generates £50bn of value for the economy
In context
We’re already delivering with new projects coming out from the 2016 P&A Hackathon. These are now being fast tracked including the first project looking at reducing waiting on weather time for subsea equipment deployment. All activity in the short-term is designed to deliver a quick turnaround – and help to build collaboration within the industry. But we are also planning for the long term – establishing the fundamental / transformational projects that will shape the future of well activity including preparing a call for proposals on rigless P&A and evaluating an active hopper of other new opportunities.
1999 peak production
5 mmboe/day
2016 Production:
1.65 mmboe/day
43bn barrels since 1970
£330 billion in corporation tax
330,000 jobs in UK from oil & gas
(~ population of 4th, 5th & 6th Scottish cities combined)
10-20 billion barrels potential remaining
Every 1bn barrels produced generates £50bn of value for the economy

3. Creating value Anchor the supply chain in the North East of Scotland
Create a culture of innovation that attracts academia and industry
Unlock the potential of the
UK North Sea
Well construction represents between 30%-50% of capital expenditure (from well development through to abandonment) on the UKCS. Costs have escalated in recent years contributing to a reduction in drilling activity. As a result the industry is uncompetitive. To address this we aim to bring suppliers and operators together – to identify the main challenges and develop solutions – through new technology adoption, adaption or development.
£180m City Region Deal public funding

4. Our business We inspire, accelerate and fund technology and innovation
Solution Centres
Centres of Excellence
Well construction
Asset integrity
Small pools
Decommissioning
Digital
World class R&D
Partner universities
Leverage capabilities
Develop new skills
Test, simulate, develop
The Well Construction Solution Centre will plan, co-fund and manages technology development and deployment programmes focused on addressing problems and challenges identified in collaboration with the oil and gas industry. This will include facilitating faster adoption of technology, adapting existing technology from other industry sectors and developing new technology. We then work with our partners to implement technology development programmes to deliver these innovations into market.
Technology Accelerator
Innovation Hub
Enable innovation
Support SMEs
Connect investors
Co-fund and mentor
Provide expertise
Inspiring environment
Learn and experience
Ideas from other sectors
Tech Talk programme
Facilitated workshops
We inspire, accelerate and fund technology and innovation

5. More than power, heat and transport
The future
COP 21
Ambitious targets
195 countries
$16 trillion spend
More than power, heat and transport
Heating and transport: 50% - 60%
Industrial: 20% - 40%
Non energy: 10% - 20%
Critical feedstock
6,000 everyday items
Agriculture to plastics
60% of global power by 2040
$23 trillion on energy efficiency
Driving change
150m electric vehicles by 2040
Oil demand up 11% by 2040
Gas demand up 33% by 2040
Composites worth $105bn by 2021
Meeting our needs for energy, materials and climate change

6. 21st century oil and gas
Technology can transform the oil and gas industry for the low carbon future

7. Pace and delivery since day one
Early progress
Pace and delivery since day one

8. Positive engagement with the industry
Strong delivery
Positive engagement with the industry

9. Building strong relationships
Government
Unviersities
SMEs
Regulators
Research Organisations
Trade Associations
Working in partnership

10. Inspiring, accelerating and funding technology innovation
Enabling MER UK
Reduce the cost of wells by 50%
Unlock the 3.4 boe in 210 small pools
Eliminate vessel inspection by 2025
Wells
Small Pools
Asset Integrity
Inspiring, accelerating and funding technology innovation

11. Delivery and look ahead
Projects
Members
Field Trials
Centre of Excellence
Innovation Hub
Positive start; lots still to do

12. Our purpose
Making sure the North East of Scotland remains a great place to live, work and invest
A not-for-profit research and development organisation