GRAND FORKS, N.D. (AP) - A New York-based oil company is giving $5 million to the University of North Dakota's College of Engineering and Mines.
Hess Corp. announced the gift Thursday in Grand Forks. The University says it will be matched with $2.5 million from the North Dakota Higher Education Challenge Fund. Together the funds will help fund the college's new Collaborative Energy Complex.
The gift from Hess is intended to advance UND's Petroleum Engineering program. The program launched in 2010 with only four students. Today it has more than 250.
The complex will house several laboratories, including the Hess Innovation Lab, 3D Visualization and Reservoir Simulation Lab and Drilling Simulation Lab.
UND currently has pledges and commitments of $11.8 million toward the $15.5 million goal for the project.