02 April 2013 08:50 [Source: ICIS news]
SINGAPORE (ICIS)--Shell will invest “several hundred million dollars” in emerging technology firms to augment its operations, the Anglo-Dutch energy major said on Tuesday.
The company will make these investments through its corporate venturing arm Shell Technology Ventures over the next six to eight years to “accelerate the deployment of innovations that add value to the company’s operations”, it said in a statement.
“As well as promising technology companies, Shell is looking to invest in technology spin-outs and externally-managed venture capital funds,” it said.
Shell will look at areas including gas production and conversion; geophysical imaging; chemical production and conversion; novel materials; enhanced oil recovery; and water treatment.
“Various aspects of information technology; oil and gas wells drilling and completion; sub-surface sensing; production in challenging environments; operational efficiency; and future energy technologies will also be sought,” it added.
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