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An anonymous reader writes: Peter Diamandis announced today the launch of a new Xprize competition. $7 million is available for teams who are capable of pushing the boundaries of ocean exploration. "Our oceans cover two-thirds of our planet's surface and are a crucial global source of food, energy, economic security, and even the air we breathe, yet 95 percent of the deep sea remains a mystery to us," Diamandis said. The competition goals are as follows: "In each round, teams will complete a series of tasks, including making a bathymetric map (a map of the sea floor), producing high-resolution images of a specific object, and identifying archeological, biological or geological features. Teams also must show resiliency and durability by proving they can operate their technologies, deployed from the shore or air, at a depth of up to 4,000 meters."