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REF NO.: 129

SUBJECT: Memorial University Senate and Board of Regents approve new executive graduate program - Master's in Oil and Gas Studies

DATE: April 2

A new graduate program aimed at executives in the oil and gas sector was approved at the recent meeting of Memorial University's Board of Regents. The University Senate, the university's governing body on academic affairs, had previously approved the new Master's in Oil and Gas at its March 11 meeting.

Under development for the past year, the new master's program is designed to give students a broad understanding of all aspects of the oil and gas industry. These aspects include exploration and production, processing and petrochemicals production, transportation and marketing, logistics, finance, resource regulation, environmental issues and socio-economic impacts. The program is scheduled to begin in September 2003, with active recruitment starting now. This program is unique in the world in terms of its scope and comprehensiveness, although components of the program are offered by some other institutes.

"This program is a major addition to our involvement in the growing oil and gas industry here in Newfoundland and Labrador," said Memorial University President Dr. Axel Meisen. "When we announced the Oil and Gas Development Partnership (OGDP) back in September 2000, we made a commitment to support the growth of the local industry through education, training and research. The Master's program will not only help to fulfill this commitment, but it is also a unique program offering that will educate the leaders of the global petroleum industry."

"The members of the program development committee have sought the advice of industry and been very innovative in making this a truly unique program, with a delivery format patterned after an executive MBA," said OGDP executive director Gerrit Maureau. "For the participants, it will be an experience that will be hard to match anywhere else. I have no doubt that this program will also benefit the university as a whole, providing significant intellectual and research benefits, and will bring us in closer contact with the future leaders of the global petroleum industry."

The Master's in Oil and Gas Studies is a professional, non-thesis, interdisciplinary degree program aimed at educating professionals already working in the oil and gas industry. The program is open to individuals with an undergraduate degree and who have several years experience in the petroleum industry, either in the private sector or with a government agency and who have been earmarked as having senior executive potential.

The program - with a tuition of $31,500 CDN - will be delivered in modular format, both on-site and by distance learning, so that participants can continue work within their parent organizations. The on site-study will consist of three three-week modules where world-renowned experts will give lectures, guide discussions, supervise project developments and lead field excursions. Between these on-site modules, students will engage in reading assignments, problem solving, project work and discussion groups using the world-wide web and other forms of distance communications under the supervision of expert professors and industry professionals.

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