On May 15, ConocoPhillips (NYSE: COP) donated about $1.2 million to the University of Texas at Austin, the company said.
Of that amount, $685,000 will support programs at the Cockrell School of Engineering, the McCombs School of Business, the College of Natural Sciences and the Jackson School of Geosciences, the company added.
The remaining $500,000 is one-half of a $1 million pledge to support and name the ConocoPhillips Student Project Laboratory within the Cockrell School’s new Engineering Education and Research Center, the company said. This amount will provide five years of funding for multidisciplinary student engineering projects, the company added. The other half of this amount will go toward the pledge in 2015, the company noted.
“ConocoPhillips continues to be an outstanding partner, and we are grateful for its support of our engineering students,” said Sharon L. Wood, interim dean of the Cockrell School.
She added, “When completed, the ConocoPhillips Student Project Laboratory will offer our students an extraordinary opportunity to formulate and test their innovative ideas by working together.”
The checks were presented to Juan Sanchez, the vice president for research at the university, by Larry Archibald, the company said. Archibald is the senior vice president for exploration and business development at ConocoPhillips, and also is the company’s executive sponsor for the university, the company noted.
“We’re pleased to continue our investment at the University of Texas at Austin,” said Archibald. “These funds will help support highly talented, innovative students who will one day contribute to the success of our industry.”
Houston-based ConocoPhillips explores and produces oil and natural gas worldwide.