National Energy Resources Australia (Nera) is providing funding for a Wood-led subsea equipment reliability project in Australia.

Nera revealed at the Australasian Oil & Gas conference in Perth on Friday it would provide A$145,000 (US$113,135) in funding for the Transforming Australia Subsea Equipment Reliability (Taser) project over two years.

Wood is leading the Taser project in collaboration with Chevron, Shell and Woodside Petroleum.

The joint industry effort is aimed improving subsea equipment design and reducing the requirement for costly and time-consuming interventions in Australia’s challenging offshore environment.