Husky Energy has committed an additional half-a-million dollars to Memorial's Husky Energy Chair in Oil and Gas Research, which it established with a $2-million donation in 2003.
Dr. John C.S. Lau, president and chief executive officer of Husky Energy, joined then President Axel Meisen of Memorial University to announce details of the additional support. In June 2003, Husky Energy donated $2 million to create an endowment to establish the Husky Energy Chair, the first endowed research chair at Memorial.
"The advancement of education and research is a key objective of Husky's community investment strategy, and we are pleased to once again partner with Memorial University as it supports the ever-changing needs of offshore exploration and production," said Dr. Lau. "This additional funding for a senior research chair demonstrates our continued commitment to advancing reservoir characterization capability in the region, as well as the East Coast's position as a core growth area for Husky Energy."
"The Husky Energy Chair in Oil and Gas Research has been a significant resource for the province of Newfoundland and Labrador's global oil and gas industry. It has also helped Memorial become an international centre relating to oil and gas research and teaching," said Dr. Meisen. "We are excited to see the results this additional funding will surely bring about and are grateful to Husky Energy for their vision in developing this chair and their continuing to support of this important research."Dr. R. Phillip Bording is the holder of the Husky Energy Chair.
"The real challenge of raising grant money is finding suitable industrial matching funds and this endowment increase will greatly help me and the future Husky Energy Chairs in that process. I am most grateful to Dr. John Lau for this contribution," said Dr. Bording. "The funding increase from Husky Energy to the endowment will provide a continuous independent source of funds to the chair for research programs and graduate students. These new funds and the other grants we have been able to leverage will allow the research group to grow in size by another eight individuals within the next year."
Since his appointment at Memorial University in October 2004, Dr. Bording has received five grants totalling $4.1 million. His research includes seismic processing algorithms for reservoir characterization, seismic modelling and migration, inverse methods for parameter estimation and joint inversion of data, application specific computing for seismic algorithms and visualization of seismic processes.