StatoilHydro invests in university R&D

Norway's StatoilHydro has entered into an $8-million, five-year R&D collaboration with one Norwegian and three Canadian universities to support PhD students in exploring more environmentally friendly methods for extracting heavy oil and oil sands. The Canadian universities will collaborate with the Norwegian University of Science and Technology within their respective areas of expertise. The Univ of Calgary will focus on recovery methods, the Univ of Alberta will contribute research in the emulsion stabilization methods for heavy oils and Vancouver Island Univ (formerly Malaspina University-College in Nanaimo) will contribute knowledge in the area of environmental monitoring. State-controlled StatoilHydro is the world's largest offshore oil and gas company with significant presence in the North Sea, where it brought the first heavy-oil deposit on stream in 2003. It is also involved in heavy oil deposits in Venezuela and the UK and recently purchased an oil sands developer in Alberta (North American Oil Sands Corp) to offset diminishing returns in the North Sea. It is also involved in offshore drilling projects in Newfoundland and Nova Scotia….