MIT, Chevron to Research Ultra-Deepwater Exploration and Production

21 November 2007

MIT and Chevron Corporation have announced an energy research program to develop remote, ultra-deepwater exploration and production technologies required to access hydrocarbons in water depths up to and greater than 3,000 meters.

The $5-million program includes the sponsorship of two named fellowships—the Chevron Energy Fellows—and makes Chevron a Sustaining Member of the MIT Energy Initiative (MITEI), which was created to address global energy issues. The five-year program will also support MITEI’s energy research seed fund to promote the development of a broad range of novel, innovative energy technologies and concepts across the Institute.

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 at least the next several decades, and advanced technologies are essential for producing these essential resources in environmentally sensitive ways.

—Professor Ernest Moniz, director, MITEI