Boston, MA 03/31/2014 (wallstreetpr) – The significant player in long-term holding of mine, ConocoPhillips (NYSE:COP) had a mixed week. It emphasized on need of advancement of initiative for business growth, social initiative and advancements and clinching few notable deals. ConocoPhillips is diversifying its strategies, which seem to play a significant role in shaping its future prospects and profits
Sustainable WE2St at Colorado School of Mines
ConocoPhillips (NYSE:COP) announced a whooping investment of $3 million in collaboration with Colorado School of Mines to set up the Sustainable (Water-Energy Education, Science and Technology) at Colorado School of Mines. The objective of the initiative is to promote research and education in the field of production of unconventional energy and water resources. The idea is based on exposing students to critical analysis of questions pertaining to energy production and sustainability.
Al Hirshberg, executive vice president, Technology& Projects, ConocoPhillips addressed is as an extension of the global initiative of water sustainability. The initiative of establishing the center highlights to tackle the challenges presented by water that needs to be tackled by diverse and innovative ideas. Thus, the center would bring together the brightest minds and innovators to research and present innovations and technological advancements to tackle the problem with effectiveness. (Make sure you secure admissions!)
This initiative could also work as an investment in Research and Development by inclusion of young minds at a wider scale that can help in growth and advancement of the company in future.
Myanmar oil, gas blocks
Southeast Asian country’s Ministry of Energy confirmed the news that ConocoPhillips (NYSE:COP) along with other oil companies have won the rights to explore for gas and oil off Myanmar. The deal includes 10 deep-water and shallow-water blocks. This is in pursuance of an Auction that was initiated in last year April.
According to Central Statistical Organization, this sector is a hub of largest foreign investment i.e. 40 percent of total accumulated foreign investment through September. This opportunity has opened doors of high sales and Profits for ConocoPhillips (NYSE:COP). (No one can deny the splash of ConocoPhillips in gold mines with sacking of this deal.)