The Advanced Energy Consortium will work with the University of Texas-Austin on innovative nanotechnology research to improve oil and natural gas production. The US Justice Department identified members of the Advanced Energy Consortium as including: BP America, ConocoPhillips, Marathon Oil Corporation, Shell International E&P, Occidental Oil & Gas Corporation, Halliburton Energy Services and Schlumberger Technology Corporation. According to Consortium officials and the Justice Department, the Consortium will be run by the University of Texas’ Bureau of Economic Geology, and each founding company will contribute $1 million each year for the first three years of the project. As part of the agreement between the university and Consortium members, the University of Texas will own all research and inventions that are spun out of the work, and the companies can make and distribute any patented technology.
source: nsti.org
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