Chevron and the Massachusetts Institute of Technology (MIT) have announced a joint initiative to develop remote, ultra-deepwater exploration and production technology. The $5 million Chevron Remote and Ultra-Deepwater program targets water depths ‘up to and greater than’ 3,000 meters.
The deal includes the creation of two ‘Chevron Energy Fellowships.’ Chevron is also now a sustaining member of the MIT Energy Initiative (MITEI). The five year program will also support MITEI’s energy research seed fund to promote the development of innovative energy technologies across the Institute.
MITEI director, Ernest Moniz said, ‘The need for affordable, sustainable energy is one of the greatest challenges of the 21st century. Conventional oil and gas supplies will play a critical role in meeting global energy demand for the next several decades, and advanced technologies are essential for producing these resources in environmentally sensitive ways.’
Meanwhile, on the other side of the pond, the UK’s Energy Minister, Malcolm Wicks announced the creation of an ‘employer-led’ oil and gas academy, the Offshore Petroleum Industry Training Organisation (OPITO).
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