ConocoPhillips exec sees Louisville site key to diversifying energy portfolio.

• Author: Cole, Rebecca
• Position: ENERGY - Brief article

The 432-acre Louisville property that ConocoPhillips bought in February for $58.5 million will be a catalyst for the fuel giant to supply energy in different forms, a company executive says.

Steven R. Brand, ConocoPhillips' senior vice president of technology, provided a few insights in March at the New Frontiers Energy Summit about the corporate learning and global technology centers slated for the site. He told about 500 people gathered in Denver that the company will continue to emphasize oil and gas for the short- and medium-term.

"Alternative energy can't be brought online quickly enough. Fossil fuels will still be a significant part of the world's energy supply even in 2020," Brand said. "But in 20, 40 and 50 years from now we'll be a different company."

Last year, ConocoPhillips hired 2,900 people--a target it plans to hit for the next several years. Brand said bringing them up to speed through corporate training is essential. Eighty-eight percent of the company's 32,000 global workers underwent some form of training last year.

ConocoPhillips has doubled its research and development spending in recent years, and this...