ribbon cutting

University of Houston opens new hydrocarbon center

UH cut the ribbon on a new hub for hydrocarbon exploration. Photo courtesy of UH

The University of Houston has officially opened the doors of a new hub for hydrocarbon exploration.

UH Energy recently unveiled its UH-DGH Center for Hydrocarbon Exploration, which is a partnership between the University of Houston and the technical arm of India’s Ministry of Petroleum and Natural Gas, Directorate General of Hydrocarbons, or DGH. The collaboration was announced in February.

The center will serve as a data center focused on India’s offshore basins, and its geoscience data to investigate production data and exploration.

"We have been thinking about this for multiple years, about how to get all this fantastic data that is there in the Directorate General of Hydrocarbons of India, use the repository of information that we have got and be able to showcase it to people in the United States where they've got the approach to go in and find oil and gas and other natural resources in ways that are perhaps truly unique and Texan in origin,” says Dr. Ramanan Krishnamoorthy, vice president of energy and innovation at UH during the event.

The event featured UH dignitaries, alum, and subject-matter experts like Rob Stewart, professor of geophysics, and David Hume, business development specialist and geoscience specialist, which included in-depth analysis of India basins that focused on geological and geophysical locations, physiographical and tectonic settings, the role of hydrocarbon elements, and other areas of interest.

The center is part of a five-year agreement to help generate reliable information on the energy industry with seismic, well, reservoir and production data being at the forefront.

“UH and India have been able to come together and bring this to reality, for us this is very inspirational,” says Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, Government of India. “We think that we are actually planting a seed for something very, very good because the multiplier effects of this are going to be incredible.”

Strategically located in Houston, which many consider an “energy capital,” Jain is excited for a set of “fresh eyes” to look at the data.

“If you’re here [in Houston], you’re at the nucleus from where everything will evolve,” Jain says to the University of Houston.

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A View From HETI

Shell's Woodcreek campus is home to about 67,000 workers. Photo courtesy HOK

Energy giant Shell has put its U.S. headquarters in Houston’s Energy Corridor on the market and is exploring the sale of its U.S. chemical business.

Green Street News reported Shell just listed its longtime Energy Corridor campus at 150 N. Dairy Ashford Road. The asking price is $325 million, The Real Deal reported. Shell plans to lease back half of the nearly 1.5 million-square-foot Woodcreek campus for 15 years.

A sale-leaseback deal could transform the 43.6-acre campus into a multitenant hub, CoStar News reported.

“Houston is a critical hub for Shell globally and the headquarters of our U.S. businesses,” a Shell spokesperson told the Houston Business Journal. “We remain committed to Houston and are evaluating opportunities to optimize our Woodcreek campus as part of our ongoing review of workplace needs while maintaining a strong presence in the city.”

Shell occupied its first building at the West Houston campus in 1980. The company employs more than 6,000 people in Texas.

Shell is one of the highest-profile businesses occupying space in the Energy Corridor. It’s home to 67,000 workers, more than 27 million square feet of office and mixed-use space, and 3.8 million square feet of retail and restaurant space.

Shell considers $8B sale of chemical business

As the company seeks to unload its Woodcreek campus, The Financial Times reported Shell is looking into selling its U.S. chemical business. The price tag: $8 billion.

Potential buyers include Spring-based ExxonMobil and Houston-based LyondellBasell.

Shell operates four chemical plants in Texas, Louisiana and Pennsylvania, producing an array of chemicals for use in plastics, detergents and pharmaceuticals.

Shell CEO Wael Sawan said last year that the company had spent $45 billion in capital “that is underperforming for us,” split between its chemical business and renewable energy arm.

Shell also agreed to sell its solar and wind power business in India this summer. Read more here.

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