Australia is home to a large and dynamic oil and gas supply chain comprising thousands of companies and worth many billions of dollars. But compared to global peers, Australian suppliers capture a smaller share of both domestic and export markets.
Research suggests that there is scope for local suppliers to increase their share of the multi-billion dollar spend in the domestic oil and gas supply chain if they can unlock commercial opportunities for innovative solutions.
NERA’s REGENERATE program is designed to build local business capability by using an open-source process to fast-track adoption of products/technologies from Western Australian businesses and innovators. It is aimed at stimulating the WA energy resources supply chain by identifying a number of business or operational challenges that will be open to WA businesses with solutions for piloting.
Leveraging its deep connections across the energy resources sector, NERA has worked with operators and large contractors to identify five operational or business challenges/opportunities that, if solved, could lower their costs or improve productivity while also growing the local supply chain. NERA will support the challenge owners to discover WA-based companies with solutions for each of the challenges/opportunities, then contribute up to $50,000 funding to support each of the five pilots.
As well as supporting the successful companies to pilot their solutions and move their technologies along the TRL scale, REGENERATE also offers all participating but unsuccessful applicants customised mentoring and other support to develop business capability and increase the likelihood of future success.
REGENERATE is a collaborative program supported by NERA, the WA Government and Industry.