New research will catalyse innovation and ideas to benefit the oil and gas industry for new challenges.

At the Offshore Technology Conference in Asia, 25 to 28 March, Lloyd’s Register Energy will launch a major research programme called Technology & Innovation Radar for the international oil and gas industry.

The adoption and development of new technologies is fundamental for the advancement of the oil and gas sector in addressing the global demand for energy and to cope with the environmental challenges in the decades ahead.

To help gain a deeper understanding of the market view, Lloyd’s Register Energy has invited sector professionals, leading academics and industry bodies to comment on the adoption of key technologies and innovation, the time line for implementation and the impact technological advancements can have upon safety and efficiency.

Lloyd’s Register Energy is working with an independent research partner to conduct this broad ranging survey to help capture this critical view point of the industry.

Lloyd’s Register Energy will publish a management report in June 2014 which will help assess the viability of new technologies, the drive and motivation for innovation, and where key opportunities and challenges exist. The results will provide a ‘radar’ on the likelihood for adoption of key technologies and innovation.

John Wishart, President of Lloyd’s Register Energy, said: “Understanding the impact which technology and innovation can have on any industry is fundamental for the continued growth and development of the global economy in which we all operate. This research recognises the vital role that technology and innovation plays in supporting this economic growth.

“The energy industry is no different, and over recent years we have seen huge advancements in engineering and technical innovations which are helping the industry become safer, more efficient and productive – addressing the world’s increasing demand for energy.

The results from this work will better inform the oil and gas industry on where advancements in technology are having the greatest impact and how technology innovation can be applied across the industry - in a safe and sustainable manner.

Find out more by visiting Lloyd’s Register Energy at Offshore Technology Conference (Kuala Lumpur), on Booth G701.