Statoil Canada Invests $1M to Grow R&D and Petroleum Education in Newfoundland

Friday, Nov 25, 2011

ST. JOHN'S, Newfoundland, Nov. 23, 2011 /CNW/ -- A $1 million dollar investment by Statoil Canada, matched by the Research & Development Corporation (RDC), will boost Memorial University of Newfoundland's research expertise in reservoir engineering.

The funding will 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 Faculty of Engineering and Applied Science. Statoil Canada and RDC will each contribute a total of $1 million over the next five years.

"Today's announcement is an excellent example of the opportunities that are created when industry, academia, and government partner," said Keith Hutchings, minister responsible for the Research & Development Corporation. "This partnership will result in positive outcomes as it will further develop Newfoundland and Labrador's research expertise in reservoir and arctic operations. It also represents some of the innovative work of RDC and its contribution to enhancing exploration and development opportunities for this province."

"Statoil is a technology-based upstream energy company, so investments in R&D and education and training are important for us," said Hege Rogno, vice-president, Offshore Upstream, Statoil Canada. "We have a long track-record of collaboration, technology sharing and knowledge transfer, which sets us apart. With the goal to strengthen the areas of petroleum technology, reservoir engineering and R&D in the province, we are very pleased to enter into a partnership with Memorial University and the Research & Development Corporation."

Recently, Statoil signed a similar agreement, focused on R&D collaboration, with the University of Texas. "Universities and academic institutions in North America represent important arenas for Statoil in research and competence development," said Ms. Rogno. "With plans to significantly develop our operations in Canada and the US, we want to further develop our position in the market for talented and skilled individuals."

"R&D investments in petroleum reservoir engineering align with Newfoundland and Labrador becoming a world-class leader in new technologies for exploration anddevelopment in harsh environments," said Glenn Janes, chief executive officer, RDC. "Today's announcement will also foster new generations of researchers critical to the future growth of this province's offshore petroleum industry."

The Statoil Chairs in Reservoir Engineering will become an integral part of the Faculty of Engineering and Applied Science. The chairs will establish, promote and focus their teaching and research programs on reservoir engineering. The chairs will also develop the reservoir engineering capability within current programs.

"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 NSC Industrial Chair, to further build our expertise in this area," said Dr. Gary Kuchens, 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 recruitment process for the new chair positions will start immediately with the goal to have a chair in place by April 2012.

About StatoilStatoil is an international energy company with operations in 34 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, Statoil is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. For more information, go to www.statoil.com.

Source: Statoil

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