Funds for oil and gas recovery research projects announced by DOE

Funds for oil and gas recovery research projects announced by DOE

Funds for oil and gas recovery research projects announced by DOE

/ Oil & Gas / Tuesday, 15 January 2019 08:37

Up to $88m in federal funding will be provided for cost-shared R&D projects that seek to enhance technologies for oil and natural gas recovery, the US Department of Energy’s (DOE) Office of Fossil Energy has announced.

The financing will be made available under two separate funding opportunity announcements (FOAs) and be managed by the National Energy Technology Laboratory (NETL).

The first FOA comprises of $44m in funding availability and the second FOA will also offer $44m.

Projects selected under the first FOA - Advanced Technologies for Enhanced Oil Recovery - will include reduction of technical risks associated with enhanced oil recovery (EOR), as well as expanding the application of EOR methods in onshore reservoirs. Projects under the second FOA will focus on enhancing the characterisation of emerging unconventional plays and improving the ultimate recovery of resources from unconventional reservoirs.

Record levels of proved reserves of oil and gas have been partly achieved due to its research programmes and the US government is keen to build on their success, as the majority of US oil is still within the ground.  

US Secretary of Energy Rick Perry said: “Technology and innovation gave us the shale revolution that’s transformed the energy landscape here in America and around the world.

“This research and development will allow us to continue building on those successes and expand the advancement of both our conventional and unconventional oil and gas resources.”

Based on the US Energy Information Administration (EIA) data, proved reserves of US crude oil and natural gas in 2017 stood at 39.2 billion barrels, while proved reserves of natural gas resources reached 464.3 trillion cubic feet (Tcf).

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