The US Department of Energy (DOE) has recently laid plans to elevate the funding in oil, gas R&D project grants. It has announced capital up to $39 million for cost-shared research and development projects with the ambition to improve oil and natural gas technologies.
Reports suggest, the National Energy Technology Laboratory will manage the projects under DOE Office of Fossil Energy funding opportunity announcements (FOA). The projects will be carried out in two stages. Phase 1 will test technologies, and processes that take place in a laboratory, examine field analog setting and proof-of-concept validation of tools. Phase 2 on the other hand, will consist of a full-scale prototype demonstration in a fitting environment and will persuade stakeholders to commercialize the technology.
In the future, DOE anticipates to fund several other projects under FOA.