Petroleum producing and oil field service companies was engage in joint researc and development of nanotechnology for exploration and production of oil and gas.

The join venture called Advanced Energy Consortium, AEC. This program is develop nanosensors that can be injected oil and gas well bores below the Earth’s surface.

The U.S. Department of Justice announced its position Thursday in a business review letter from Thomas Barnett, assistant attorney general in charge of the Department’s Antitrust Division, to counsel for the AEC in response to consortium’s request for such a statement.

Nano-scale sensor into the surrounding earth to collect data about the physical characteristics of hydrocarbon reservoirs. The data could enable the more efficient exploitation of oil and gas resources.

Following statment from Thomas Barnett :

“has no present intention to take antitrust enforcement action” but “reserves the right to bring an enforcement action in the future if the actual operation of the proposed conduct proves to be anticompetitive in purpose or effect.”

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