A North Bay drilling company received $170,000 from the National Research Council’s (NRC) Industrial Research Assistance Program fund.
The money for the drilling services company is earmarked for the development of a data acquisition system to capture and record essential production data from drilling rigs.
A news release said the data collected will be used to increase the overall productivity and the safety of crews and rigs.
“NRC funding has allowed Foraco to more aggressively move toward our research and development initiatives,” said Tim Bremner, a senior vice-president of the company. “This will not only provide a competitive advantage in a mature market such as Canada, but it will also allow us to export best practices and better serve clients.”
“Our information, idea driven society demands innovation which is a key driver of economic growth and prosperity for our region,” said local MP Jay Aspin.
