The University of Texas of the Permian Basin’s young petroleum engineering program has recently received a major gift totaling a staggering $500,000 from petroleum giant Chevron.
Investing in the Future
Chevron Area Manager Mitch Mamoulides announced that the donation of $500,000 would go to create an endowed chair of petroleum engineering at UTPB. UTPB President David Watts said the donation comes at an important time for the university as petroleum engineering has been available at UTPB only since 2011 and graduated its first class of students in December. “Chevron doesn’t just invest in any old program,” Watts said. “They invest in quality programs and quality institutions.”
Chevron also donated an additional $64,900 for scholarships at UTPB to be divided among areas of community need, including engineering, nursing and teaching.
Other than the fact that UTPB is beginning to lead the way in petroleum engineering, the image below from Prospect Visual shows us another potential factor that could have also played into this donation as we see that a few key members of UTPB are very well-connected to key members of Chevron.