$2M to boost petroleum engineering research

St John’s, NL – $2-million funding by energy company Statoil Canada and the Research & Development Corporation (RDC) will be used to create the Statoil chair and Statoil associate chair in reservoir engineering at Memorial University and foster the development of a new petroleum engineering research program in the university’s Faculty of Engineering and Applied Science. Statoil Canada and RDC are each contributing $1 million over the next five years.

“Statoil is a technology-based upstream energy company, so investments in R&D and education and training are important for us,” said Hege Rognø, vice-president, offshore upstream, Statoil Canada. “We have a long track record of collaboration, technology sharing and knowledge transfer.”

The company recently signed a similar agreement, focused on R&D collaboration, with the University of Texas.

“The new Statoil Chairs in Reservoir Engineering will significantly strengthen Memorial’s research capacity in this strategic area and we are committed to pursuing other opportunities, such as a Canada Research Chair or NSERC Industrial Chair, to further build our expertise in this area,” said Dr Gary Kachanoski, president and vice-chancellor, Memorial University. “I have every confidence that the Statoil chairs will lead to innovative new research that will benefit both engineering students and the wider community.”

The university says the recruitment process for the new chair positions has started, with the goal to have a chair in place by April 1, 2012.