Home > Press > ConocoPhillips Collaborates with the University of Kansas to Use Nanotechnology to Enhance Oil Recovery
Abstract:
ConocoPhillips (NYSE:COP) and the University of Kansas (KU) today announced a three-year collaborative nanotechnology research program which will focus on the development and testing of new technologies for oilfield stimulation to enhance recovery to help meet growing energy demand. ConocoPhillips will contribute $400,000 per year to the program.
Nanotechnology - engineering on the scale of atoms and molecules - is commonly used in a number of industries, and its application in the oil and gas industry represents a major prospect for substantial and sustained benefits. KU is not only viewed as an innovation leader in nanotechnology research, but the University also has been examining and developing enhanced oil recovery (EOR) techniques through its Tertiary Oil Recovery Project since 1974. While EOR techniques that use injected fluids to stimulate hydrocarbon recovery have been employed for decades, inclusion of nanoparticles may lead to more efficient and environmentally sensitive technologies.
"KU's extensive experience in enhanced oil recovery and nanotechnology provides an ideal foundation for our collaborative research focused on developing promising new oilfield applications," said Stephen Brand, ConocoPhillips senior vice president, Technology. "ConocoPhillips is pleased to be working with KU to discover some of the next generation of solutions to the world's energy challenges."
"KU has a terrific team of researchers working with ConocoPhillips," said Steve Warren, vice provost for research and graduate studies, University of Kansas. "Energy research in all its forms is a major area of strength for KU. We're pleased to be working with ConocoPhillips to foster innovation, support additional research, and increase the productivity of an important sector of the economy."
Under the agreement, KU researchers will use nanotechnology to generate polymer type products and will conduct initial screening and testing. ConocoPhillips will provide additional evaluation and field testing to determine the products' practical application.
####
About ConocoPhillips
At ConocoPhillips, responsibly delivering energy to the world is just the beginning. As an international, integrated energy company, ConocoPhillips realizes the extent of its global impact, which is why the company conducts its business in a safe, environmentally responsible and ethical manner. The people at ConocoPhillips are the driving force behind the company’s success. From the company’s beginning in 1875, its people have been the catalyst for innovation in all aspects of the business.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that contain projections about our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements are based on management's expectations, estimates and projections about ConocoPhillips and the petroleum industry in general on the date this statement was released. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Economic, business, competitive and regulatory factors that may affect ConocoPhillips' business are generally as set forth in ConocoPhillips' filings with the Securities and Exchange Commission (SEC). Unless legally required, ConocoPhillips undertakes no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
For more information, please click here
Contacts:
ConocoPhillips Contacts
Nancy Turner
281-293-1430 (ConocoPhillips media)
or
Gary Russell
281-293-1116 (ConocoPhillips investors)
or
University of Kansas Contact
Office of Research and Graduate Studies
Kevin Boatright
785-864-7240
Copyright © Business Wire 2008
If you have a comment, please Contact us.Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Related News Press |
News and information
Simulating magnetization in a Heisenberg quantum spin chain April 5th, 2024
NRL charters Navy’s quantum inertial navigation path to reduce drift April 5th, 2024
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Announcements
NRL charters Navy’s quantum inertial navigation path to reduce drift April 5th, 2024
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Energy
Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024
Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023
Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023
The efficient perovskite cells with a structured anti-reflective layer – another step towards commercialization on a wider scale October 6th, 2023
Grants/Sponsored Research/Awards/Scholarships/Gifts/Contests/Honors/Records
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Chemical reactions can scramble quantum information as well as black holes April 5th, 2024
Alliances/Trade associations/Partnerships/Distributorships
Chicago Quantum Exchange welcomes six new partners highlighting quantum technology solutions, from Chicago and beyond September 23rd, 2022
University of Illinois Chicago joins Brookhaven Lab's Quantum Center June 10th, 2022
The latest news from around the world, FREE | ||
Premium Products | ||
Only the news you want to read!
Learn More |
||
Full-service, expert consulting
Learn More |
||