A C$200 million (U.S. $185 million) commitment over five years by Alberta Energy to provide royalty adjustments to a number of specific pilot and demonstration projects that use innovative technologies to increase recoveries from existing reserves and encourage responsible development of oil, natural gas and in-situ oil sands reserves. Successful applicants in the program will be provided royalty adjustments up to a maximum of 30% of approved project costs.
EXPERIENCE:
Projects approved May, 2009: ARC Resources Ltd.’s Redwater Immiscible CO2 Vertical Pilot Project was approved for C$7,560,000.
Husky Oil Operations Ltd.’s Rainbow Keg River O Pool Enhanced Gas Recovery project was approved for C$2.7 million.
Pengrowth Corp.’s Quaternary Acid Gas Injection at Judy Creek BHL “A” Pool project was approved for C$3,540,000.
