Nanotechnology a New Energy Tool: Companies, UT Seek Ways to Help Oil and Natural Gas Production
Posted on: Friday, 24 August 2007, 06:10 CDT
By David Ivanovich, Houston Chronicle
WASHINGTON -- A consortium of energy companies, working with the University of Texas at Austin, plans to research the use of nanotechnology to help produce oil and natural gas.
The proposal came to light Thursday when the Justice Department announced it would not oppose the project on antitrust grounds.
Nanotechnology involves the manufacture of materials at the nanometer scale -- one one-billionth of a meter. A human hair is about 80,000 nano- meters wide.
The joint venture partners, calling themselves the Advanced Energy Consortium, want to develop subsurface nanosensors that could be injected into oil and gas well bores. They believe the tiny nanosensors would migrate from the well hole into the pores of surrounding geological structures, collecting information producers could use to evaluate the potential of a reservoir.
The partners are BP America, ConocoPhillips, Marathon Oil Corp., Shell International E&P, Occidental Oil & Gas Corp., Halliburton Energy Services and Schlumberger Technology Corp., according to the Justice Department. UT's Bureau of Economic Geology will manage the project.
Each member will contribute $1 million a year for the first three years of the project to fund the research, according to information provided to the Justice Department by the consortium and quoted in the department's response to the consortium's lawyer.
UT will conduct the research and will own any inventions resulting from the work, while the companies will have the right to make and sell any patented technology.
The consortium "appears to be structured so that its proposed business conduct will not create any risks to competition," Thomas Barnett, the assistant attorney general in charge of Justice's Antitrust Division, said in a letter to Rufus Oliver, an attorney with Baker Botts in Houston representing the consortium.
Indeed, Barnett argued the joint venture "may have the pro-competitive effect of promoting innovation."
Oliver declined to comment on the proposal.
david.ivanovich@chron.com
Source: Houston Chronicle
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