28 Mar 2019, Blog
There’s no question that upstream oil and gas companies are under increased pressure due to new emissions reduction regulations like those found in Directive 60. In Alberta, the provincial government is offering financial incentives to offset some of the cost of compliance, providing financial incentives for energy-efficient repairs and equipment upgrades.
Facility owners can receive up to $250,000 per facility, per fiscal year for oil and gas facilities operating in Alberta that do not exceed 40,000 barrels of oil per day. This incentive includes two categories:
|Facility Type/Category||Incentive Amount per site|
|Single Well Site||$600|
Study applications must be submitted for pre-approval. The approved incentive will be paid out upon completion, submittal and acceptance of final study report.
Eligible methane emission reduction measures include:
Direct to Capital Studies applications must be submitted for pre-approval. The final project application must be submitted within 30 days of r the application pre-approval. A minimum methane emission reduction of 500 tonnes CO2e must be documented per approved application.
50% of the study incentive will paid out upon final study approval. The remaining 50% of the approved incentive will be paid out upon completion, submittal and acceptance of post install verification report.
Need help navigating the incentives available to reduce methane emissions? SIMARK is here to help.