PetroleumR&D Accelerator

Research and development (R&D) is a key driver of innovation, competitiveness and overall economic performance. To accelerate R&D in the petroleum industry, the PetroleumR&D Accelerator focuses on business-led projects that are defined by the following key drivers:

the market - exploration, development and operations-related R&D required to leverage oil and gas development opportunities
the R&D performers - oil and gas supply and service companies, technology providers, marine transport and ocean technology companies with market applications in the petroleum industry

The PetroleumR&D Accelerator will normally fund, on a non-repayable basis, up to 25 per cent of total eligible R&D costs, to a maximum of $5 million per project, when leveraging 75 per cent or more from the applicant (the offshore supplier/technology provider), offshore petroleum producers (collaborators/end users), R&D partners, and/or other sources. A contribution rate of up to 75 per cent of total eligible costs will be considered for projects with significant potential to impact R&D capacity in the petroleum industry, or which have significant potential for economic impact. Multi-year projects of up to five years are eligible. Eligible costs include incremental, out-of-pocket costs specific to the project including: new buildings and building renovations (R&D-related physical infrastructure), salaries for new engineers, scientists, researchers and other technical personnel, specialized research tools and equipment, IP and patent protection, R&D materials, contracted technical services, model testing, demonstration and field trials, R&D-related operating, maintenance, and travel costs.

PetroleumR&D Accelerator

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