Energy Roundup: ConocoPhillips Inks Caspian Deal, ExxonMobil Goes for Carbon Capture, and More

(MoneyWatch)  KMG, Mubadala sign Caspian deal -- KMG, ConocoPhillips, and Mubadala Development Co. say they have have signed a memorandum of understanding to negotiate terms for the exploration and development of fields in the Caspian Sea, off of Kazakhstan. The "N block," as the high potential oil and gas field is called, is located 19 miles offshore in the Caspian Sea and covers about 3,127 square miles. [Source: Offshore]

ExxonMobil teams with Pratt & Whitney Rocketdyne to develop advanced "gasification" technology -- ExxonMobil has entered into an agreement with Pratt & Whitney Rocketdyne to develop a next-generation technology, called "gasification," to convert coal, coke or biomass to "synthesis gas" (CO and hydrogen), which could help facilitate the use of "carbon capture" and storage and reduce greenhouse gas emissions. [Source: Business Wire]

More being trained for nuclear -- Universities are scrambling to train young engineers for a nuclear-powered future. A recent study by the American Physical Society found that the number of students enrolled in undergraduate nuclear engineering degree programs in the U.S. rose to more than 1,900 in 2007 from a low of about 500 in 1999. [Source: AP via WRCBtv]

Wind farm developers accused of bribery -- Wind developers in rural England are said to be "bribing" communities to back wind farms, offering to pay for the tab for "lunch clubs" for pensioners and kid's parks, says The Campaign for the Protection of Rural England. The groups says that at 35 communities have been offered these "goodwill" payments. [Source: UK Telegraph]

Forster Drilling swaps out CEO -- In an attempt to "strengthen and streamline the operations structure," Nevada's 75-year-old Forster Drilling Corporation has announced that Fred Forster III, the company's president, CEO and, and chair, is stepping down. The board has elected Frederick C. Doutel, Jr. as acting president, CEO and chair. Forster operates two rigs in the Permian Basin. Let's see if "Jr." can outdo "III." [Source: Earth News via Business Wire]