Brazilian national oil company Petrobras has achieved financial benefits valued at over US $17M from its involvement in two Group Sponsored Projects (GSPs).
GSPs are an established way for Industrial Members to take part in substantial R&D programmes at low cost.
This massive payback, almost ninety-fold, was achieved with a relatively modest investment of US $0.19M over five years.
One project, on HAZ toughness requirements for offshore steels, obviated scrapping of several thousand tonnes of steel outside original specification and produced large savings. The other dealt with properties of ERW pipe and enabled the company to select this type of product with 20% cost savings.