Scottish Enterprise backs project to reduce costs

Posted on 13 Nov 2017 and read 157 times
Scottish Enterprise backs project to reduce costs A new £1 million research and development project focused on cost reduction and increased efficiency for the oil and gas sector has received a grant from Scottish Enterprise (www.scottish-enterprise.com).

Edinburgh-based Concept Systems, which is a wholly owned subsidiary of ION Geophysical Corporation, develops industry-leading software products for the seismic-exploration market.

This new project will help the company improve the functionality of its Orca software — a comprehensive survey planning and management tool.

The two-year project is supported by Scottish Enterprise, which has provided almost £295,000 of funding to create three new jobs (and safeguard nine other jobs).

Welcoming the announcement whilst on a visit to Canada and the USA, Keith Brown (the cabinet secretary for economy, jobs and fair work) said: “Innovation remains crucial to the oil and gas sector for maximising economic recovery and reducing costs, ultimately securing the long-term sustainability of the North Sea.

“Scotland’s offshore oil and gas industry has a bright future, with up to 20 billion barrels of oil equivalent remaining under the North Sea and in the wider basin.”

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