ConocoPhillips conducts ongoing research designed to improve production of today’s conventional fuels, while leveraging the company’s expertise in new ways through its Technology organization. The company is substantially increasing research and development efforts on technologies that complement our existing businesses, reduce the environmental footprint of our activities, and progress alternative and renewable energy sources.
Managing our Emissions
ConocoPhillips' Technology group focuses on delivering value-adding technology to our upstream business in areas such as finding and producing conventional oil and gas reserves, developing more challenging reservoirs such as oil sands and improving the efficiency and integrity of existing assets.
The continued, successful production of hydrocarbons from environmentally, geographically and technically challenged reservoirs is a pivotal component of ConocoPhillips’ future growth strategy. To this end, the company is developing technology to deliver world-class performance in Arctic, deepwater, heavy oil, and unconventional resource areas. In addition, we are exploring ways to apply our liquefied natural gas (LNG) expertise to unlock stranded gas in remote regions of the world.
For example we are making significant investments in heavy oil technology focused on managing the environmental impacts associated with oil sands development.
Our heavy oil technology program is focused on four key areas:
- Managing greenhouse gases
- Minimizing water use
- Reducing land use
- Improving project economics
The ConocoPhillips Energy Prize is a joint initiative of ConocoPhillips and Penn State University to recognize new ideas and original, actionable solutions that can help improve the way the nation develops and uses energy. For four consecutive years, this competition awarded up to $300,000 and recognized innovative ideas for developing new energy sources, improving energy efficiency, and addressing climate change issues.
ConocoPhillips and Penn State awarded the 2011 ConocoPhillips Energy Prize to Adam Rein and Ben Glass for their Aerostat Platform for rapid deployment Airborne Wind Turbines. This concept aims to make wind power literally leap out from the box by taking advantage of stronger and more consistent winds higher in the air, seeking to hoist a wind-turbine up to 2,000 feet aloft. For more information visit ConocoPhillips Energy Prize.
Recent Energy and GHG related Technology Press Releases