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August 24th, 2007
The Department of Justice said Thursday that it doesn't intend to challenge a proposal by a group of oil and gas companies to collaborate on nanotechnology research with the University of Texas at Austin.
The joint venture, the Advanced Energy Consortium, plans to develop subsurface nanosensors that can be injected into oil and gas well bores, where they will migrate into pores of the surrounding geological structure and collect data about hydrocarbon reservoirs.
Under the proposal submitted to the Justice Department's Anitrust Division, the oil and gas industry members will each contribute funding for research, which will be carried out by the university.
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