In August 2006, China announced plans to spend 800 million yuan (US$100 million) over the next 10 years to study natural gas hydrates. A potentially economic reserve in the Gulf of Mexico may contain approximately of gas. Bjørn Kvamme and Arne Graue at the Institute for Physics and technology at the University of Bergen have developed a method for injecting into hydrates and reversing the process; thereby extracting CH4 by direct exchange. The University of Bergen's method is being field tested by ConocoPhillips and state-owned Japan Oil, Gas and Metals National Corporation (JOGMEC), and partially funded by the U.S. Department of Energy. The project has already reached injection phase and was analyzing resulting data by March 12, 2012.