Tax credits, incentives help offset technology development costs

摘要

R&D is essential to the future of the industry, but oil and gas companies do not have to foot the bill alone. Due to exponentially increasing energy demands and ever-changing regulations, the oil and gas industry is scrambling to develop solutions to many complex issues. Companies around the US are undertaking high-cost projects to improve upstream production technologies, optimize process systems, and develop customized engineering design solutions and construction techniques. These companies recognize the necessity of R&D efforts, but many are unaware that the costs incurred during their day-to-day projects are eligible for R&D tax incentives.