Chevron Corp. and Massachusetts Institute of Technology (MIT) are partnering to develop remote, ultra-deepwater exploration and production technology. The $5 million Chevron Remote and Ultra-Deepwater Research Program will focus on accessing hydrocarbons in water depths of 3,000 meters and deeper.

“Developing remote, ultra-deepwater reserves is one of the greatest challenges the industry faces as we seek to meet the world’s growing demand for energy,” said Chevron Chief Technology Officer Don Paul. “Chevron is drilling at depths once thought impossible, and partnerships such as these are critical if we are to keep pushing the boundaries of possibility.”

The program includes the sponsorship of two named fellowships — the Chevron Energy Fellows — and makes Chevron a sustaining member of the MIT Energy Initiative (MITEI). The five-year program also will support MITEI’s energy research seed fund to promote the development of a broad range of innovative energy technologies and concepts across the institute.

“The need for affordable, sustainable energy is one of the greatest challenges of the 21st century,” said MITEI Director Ernest Moniz. “Conventional oil and gas supplies will play a critical role in meeting global energy demand for at least the next several decades, and advanced technologies are essential for producing these essential resources in environmentally sensitive ways.”

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