The oil and gas industry continues to perform activities related to research and development and should undoubtedly take advantage of the Grants and tax Credits . Whether a company is developing a subsea system, or working to improve development processes, it may qualify for this incentive.
Examples of areas where qualifying R&D activities could exist
- Designing and developing offshore and subsea structures.
- Producing a design for refining oil and gas materials.
- Constructing water treatment plants and systems to treat wastewater.
- Creating the optimal solution for plugging and abandoning a wellhead.
- Developing software applications for internal or external use.