Department of Energy Announces $39 Million for Oil and Natural Gas R&D Projects
Source: www.energy.gov
In a move that could further strengthen the U.S. leadership in oil and gas production, the U.S. Department of Energy (DOE) announced up to $39 million in federal funding for cost-shared research and development projects aimed at improving oil and natural gas technologies. Of the total funding, ~$15 million will be provided for projects that enhance the potential for Enhanced Oil Recovery of conventional resources in offshore settings. The remaining $24 million will be utilized for projects that support the development of tools to enhance the safety and efficiency of natural gas production. U.S. oil and natural gas production hit record highs in 2018 and the country is expected to become a net energy exporter by 2020.
