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Chevron Canada Limited and Memorial University of Newfoundland today announced a significant expansion of their partnership.
A financial contribution of $2 million will be made by Chevron Canada to Memorial to fund scholarships, bursaries and international co-operative education opportunities. The funding will be provided to Memorial this year and will flow to both undergraduate and graduate students studying at the university during the next 10-plus years. Students studying engineering, earth sciences, business and economics will be eligible for the various awards.
At Chevron, we believe that business success is linked strongly to societys progress, said Rhonda Zygocki, executive vice-president (policy and planning), Chevron Corporation. Our investments in communities around the world, including the investment announced today to benefit Memorial University students, are also investments in the long-term success of our company.
This generous contribution from Chevron Canada will significantly enhance Memorials capacity to financially support students in these key academic areas, said Dr. Gary Kachanoski, president and vice-chancellor, Memorial University. By investing in students in this way, Chevron is providing essential assistance as well as invaluable academic encouragement, laying important groundwork for their future achievements.
The $2 million in funding will be distributed in the following manner:
$900,000 of the funding will be used for graduate student support. Commencing in 2012, six merit-based Rising Star Awards valued at $15,000 each will be provided annually for 10 years. Approximately 80 per cent of these awards will be provided to earth sciences student applicants;
$480,000 of the funding will be used to provide 12 undergraduate awards of $4,000 each annually for 10 years, starting this year;
$420,000 will be used to create an endowment fund that will provide up to eight annual undergraduate awards in perpetuity, starting this year. Initially, these awards will be valued at $2,000 each;
$200,000 will be used to create a term fund for international co-operative education support. Starting in 2012, three international placements will be supported annually; two at $7,500 and one at $5,000. Priority for these awards on an annual basis will be for applicants who are taking a work term with an employer in the oil and gas industry.
Chevron Canada is a proud, long-standing member of the Newfoundland and Labrador community, said Mark MacLeod, Atlantic Canada vice-president, Chevron Canada. We are proud of the many partnerships we have established in the province, and we look forward to growing our very successful partnership with Memorial University of Newfoundland even further.
In 2008, Memorial was selected for Chevron Corporations University Partnership Program. Through this program, support is provided to a global network of more than 95 colleges and universities to develop talent in key academic disciplines, foster research capacity, increase community engagement and build relationships critical to the global workforce and meeting the worlds energy demands.
About Chevron Canada Limited
Chevron Canada Limited is a wholly owned subsidiary of Chevron Corporation. Since 1938, Chevron Canada has been involved in exploring for, developing, producing and marketing crude oil, natural gas and natural gas liquids in Canada. In offshore Newfoundland and Labrador, Chevron Canada has significant interests in the Hibernia Field, the Hebron Development as well as exploration acreage in the Orphan Basin and on the Labrador shelf. For more information about Chevron in Canada, please visit www.chevron.ca
About Memorial University of Newfoundland
Founded in 1925 as a memorial to Newfoundlands war dead, Memorial University College was elevated to degree-granting status in 1949 as Memorial University of Newfoundland. Today, the university is the largest in Atlantic Canada, with about 18,000 students. Memorial provides excellent undergraduate, graduate and professional programs in virtually all disciplines. With locations in St. Johns and Corner Brook in Newfoundland, Happy Valley-Goose Bay in Labrador and Harlow in England, Memorial is committed to experiential learning. The universitys many interdisciplinary programs abound with opportunities for experiential learning, ranging from on-campus employment to work terms around the world.
Outstanding research and scholarship, extraordinary teaching and a focus on community service are the universitys hallmarks. Many teaching and research activities reflect our mid-North Atlantic locations; these unique settings and our cultural heritage have led to the creation of highly-regarded academic programs and specialized facilities in areas such as music, linguistics, folklore and human genetics, as well as earth sciences, cold-ocean engineering, rural health care and archaeology. For more information about Memorial University of Newfoundland, please visit www.mun.ca
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