- The Emerging Businesses segment’s research efforts focus on improving production of conventional fuels, as well as producing and commercializing alternative and renewable energy sources.
merging Businesses invests in new technologies outside the company’s normal scope of operations. Its activities are currently focused on carbon-to-liquids; technology solutions such as sulfur removal; alternative forms of energy such as advanced hydrocarbon processes, energy conversion technologies, new petroleum-based products and renewable fuels; and power generation.
“As an established conventional energy provider, ConocoPhillips also intends to be at the forefront of new, environmentally responsible energy resource development,” says Stephen Brand, senior vice president, Technology. “We’ve increased our research and development activities in technologies that complement our existing businesses and provide strong growth opportunities in energy alternatives.”
In 2007, ConocoPhillips and Tyson Foods announced an alliance to produce and market the next generation of renewable diesel fuel made by utilizing byproduct animal fat as a refining feedstock. Later that year, ConocoPhillips and Archer Daniels Midland announced a collaboration to research and commercialize renewable transportation fuels produced from biomass.
ConocoPhillips enhanced its heavy-oil production capabilities by entering into a venture with EnCana Corporation to produce and refine bitumen from the Athabasca oil sands. The company also is assessing the feasibility of producing shale oil in the U.S. Rocky Mountains and natural gas hydrates in arctic regions and beneath sea beds.
The company is researching technologies to reduce carbon dioxide emissions, including the proprietary ConocoPhillips E-Gas™ technology, which can convert coal into synthetic natural gas. A feasibility study with Peabody Energy is under way for a possible project that would produce pipeline-quality natural gas from proven U.S. coal reserves. Research also continues on carbon sequestration – capturing waste carbon dioxide and injecting it deep underground into depleted reservoirs, thus reducing atmospheric emissions.
Additionally, ConocoPhillips expanded its power business through acquisition and project development. In 2007, the company acquired a 50 percent interest in a cogeneration facility at its Sweeny refinery. It also made progress on phase II of the Immingham Combined Heat and Power (CHP) plant that will produce an incremental 450 megawatts of power and is scheduled to be completed in 2009. ConocoPhillips already owned the original Immingham CHP, a 730-megawatt, gas-fired combined heat and power plant located in North Lincolnshire, United Kingdom, as well as a 421-megawatt plant in Orange, Texas, that supplies steam and electricity.
