( CNN ) -- Oil companies could soon be using an innovative new technique involving nanotechnology and magnets to help clean up offshore oil spills . Oil spills from container ships or offshore platforms are a frequent hazard to marine and coastal ecosystems and an expensive one to clean up . BP expects the Gulf of Mexico oil spill in 2010 -- the worst environmental disaster in U.S. history -- to cost it $ 40 billion . However , researchers from the Massachusetts Institute of Technology ( MIT ) say they have found a method of recovering oil after a spill using magnets , potentially saving companies like BP money in clean up bills . On it 's own , oil is not magnetic , but MIT researchers say that when mixed with water-repellent nanoparticles that contain iron , the oil can be magnetically separated from the water . The nanoparticles can later be removed to enable the re-use of the oil . `` I had known about other scientists using magnetic fluids to separate oil but it had never worked out practically and that was something I felt I could do something about , '' says co-researcher Markus Zahn . The recovery process would be conducted out at sea after the oil spill , explains Zahn . Seawater polluted with oil would be pumped onto a boat treatment facility . Once onboard , the magnetic nanoparticles would be added and attach themselves to the oil . See also : A robot that detects oil spills . The liquid would then be filtered with the magnets to separate the oil and water , with the water returned to the sea and the oil carried back to shore to an oil refinery . `` I think in the world we are in , there are always going to be spillages which affect the wildlife and livelihoods of people and this can help tackle that , '' says Zahn . Since the 2010 Gulf of Mexico oil spill , there has been a rise in interest from oil companies and government departments in funding new techniques for reducing the environmental impact and cost of future oil spills . Until now the two main methods have been using chemical dispersants , which break up the oil , and skimming , a technique whereby the oil is pulled off the surface of the water . Although there are drawbacks to both -- chemical dispersants can have negative impacts on marine life and skimming can be hampered by bad weather -- magnetic techniques may still find it difficult to gain acceptance . Zahn admits that one oil company has already turned down the opportunity of funding the research but is confident that other companies will support the project . The use of tiny nanoparticles is seen by some as controversial . As well as being complex and difficult to use on a large-scale , there are concerns they could damage marine life , if accidentally released . See also : Robotic sailboats built to clean up oil spills . While their impact on the environment is still largely unknown , scientists such as David Andrews from the U.S.-based Environmental Working Group ( EWG ) , say their use should be limited . Others suggest the magnetic technique would be better suited to small-scale use and that existing alternatives such as skimming are still better suited for tackling large-scale offshore oil spills . `` On a small-scale it ( the magnetic technique ) may be an excellent system but I do n't think it will work at sea in such a challenging environment , '' says Dr Susan Shaw , founder of the Marine Environmental Research Institute . `` I think ultimately , it may be a better way of recovering oil once it is brought ashore rather than out at sea . '' For Shaw , a newly developed skimmer from an Illinois company Team Elastic offers a better method for cleaning up oil spills . It can recover about 4,700 gallons per minute , so assuming the skimmer could be deployed 24 hours a day , it would take 30 days to pick up the entire 200 million gallons of oil spilled during the Gulf of Mexico disaster . `` In my opinion , the new skimmers are the most hopeful and best method for cleaning up an oil spill and protecting health and the environment . They should be part of the safety equipment required by permit for every offshore drilling rig , '' says Shaw .
MIT researchers develop new technique for recovering oil using magnets . Could save oil companies money and reduce costs of clean up . Score: 6 Skimming technique may be better suited to offshore spills .