The American Association of Petroleum Geologists (AAPG) and the Petroleum Technology Transfer Council (PTTC) in early July signed a Letter of Intent for AAPG to assume management of PTTC activities.
AAPG is a professional scientific organization with more than 31,000 members in
115 countries. Since 1994, PTTC, funded primarily by the US Department of Energy (DOE) with funds matched by the states and industry, has been a recognized force for transferring exploration and production technology transfer to domestic
Last year Congress declined to provide funding for many elements of the DOE¹s natural gas and oil research and development program, from which PTTC drew its federal funds. DOE ultimately provided $1 million of funding through September 2008 to help PTTC transition to a primarily industry-funded organization.
PTTC¹s primary tool for transferring E&P technology is regional workshops, which are supplemented with a strong web presence, newsletters and other personal outreach. Using these tools, PTTC connects producers, the service sector, consultants, researchers and others with the data and technology information needed to spur technology application.
Topics addressed by PTTC activities have covered the full spectrum of E&P operations, including exploration, unconventional resources, enhanced recovery processes, imaging technology, drilling and completion, hydraulic fracturing, and many others.
This agreement provides for a due-diligence period of 60 days after which, presuming positive negotiations, the transition to an AAPG-managed PTTC would occur.
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