DOE To Steer $35M Into Ultra-Deepwater Research

Law360, New York (May 22, 2012, 5:02 PM EDT) -- The U.S. Department of Energy will pump $35 million into 13 projects researching safer, more environmentally sustainable technologies for recovering ultra-deepwater oil and natural gas, including a pair of General Electric Co. drilling equipment projects, the DOE announced Monday.

The funding will help increase the research portfolio for the Office of Fossil Energy’s unconventional oil and natural gas program, and the research contracts will be administered by the Research Partnership to Secure Energy for America, a private consortium of energy companies and researchers.

The move comes...
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