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Energy industry leaders commit $1.6M to UH petroleum program
Date:7/30/2008

HOUSTON, July 29, 2008 Two Fortune 500 oil companies have committed major funding to the Cullen College of Engineering at the University of Houston. The funds, from energy industry leaders Devon Energy Corp. and Marathon Oil Corp., will provide support for a new undergraduate program in petroleum engineering, which is expected to be approved by the Texas Higher Education Coordinating Board this fall.

"Marathon's and Devon's commendable and considerable generosity will benefit both the University of Houston and the public in general as we help prepare a new generation of energy industry leaders," said Renu Khator, president of UH and chancellor of the UH System.

Marathon (NYSE: MRO) has pledged $600,000 to the program over three years. Marathon's funds are unrestricted and will be used to address the most pressing needs of the new degree program as it develops. The company has been a donor to UH since 1989, with previous giving totaling nearly $400,000.

"We applaud the formation of the petroleum engineering program at the University of Houston's Cullen College of Engineering, and are proud to be the first company to step forward and pledge support," said Clarence P. Cazalot Jr., Marathon president and CEO. "The creation of this program at UH is significant at this important juncture, when global demand for energy is increasing so rapidly. Marathon is pleased to support the College of Engineering in their efforts to educate students who will one day play a critical role in developing energy that is so vital to the future of our country and the world."

Devon (NYSE: DVN) has committed $1 million to the program over three years. The funds will provide scholarships and textbooks for students pursuing a Bachelor of Science degree in the new petroleum engineering program, materials for faculty and other needs of the program. Devon's funds will also be used to renovate an existing laboratory and outfit it with the latest equipment
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Contact: Eric Gerber
egerber@uh.edu
713-743-8189
University of Houston
Source:Eurekalert

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