WASHINGTON, D.C. – Today, the U.S. Department of Energy (DOE) announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies.
The United States is now the world’s leader in both oil and natural gas production. According to the U.S. Energy Information Administration (EIA), U.S. natural gas production hit a new record high in 2018, an 11 percent increase from 2017. In addition, U.S. crude oil production grew 17 percent in 2018, surpassing the previous record in 1970.
“Maximizing our domestic resources is key to maintaining American energy independence and ensuring both our energy and national security,” said U.S. Secretary of Energy Rick Perry. “The United States is projected to become a net energy exporter by 2022, and by improving technologies that enhance the efficiency of producing and recovering oil and natural gas, we can be sure to achieve that title.”
“The phenomenal growth in U.S. oil and gas development—both conventional and unconventional—is changing the energy landscape in America and around the world,” said Steven Winberg, Assistant Secretary for Fossil Energy. “Developing advanced technologies to improve oil and natural gas recovery can expand the potential for developing our vast resources.”
Selected projects will fall under two DOE Office of Fossil Energy funding opportunity announcements (FOAs). The National Energy Technology Laboratory (NETL) will manage the projects under both FOAs.