One of thousands of abandoned wells that dot Alberta that could potentially be eligible for a billion-dollar aid package. (CHAT News photo).
Jun 18, 2020
MEDICINE HAT, AB – It’s been a trying five years for the oil sector in Alberta – even longer for the natural gas industry. But a billion-dollar federal program might end up being a lifeline to the industry’s service companies while cleaning up abandoned wells at the same time.
“This program will allow companies to survive, to clean up some of their liabilities, to be able to move on to better days,” said Jason Tweten, president of Action Land and Environmental Services. “For the last three or four months, most companies have been pretty slow, looking for things to do because our clients just do not have the funding or capital to move forward with programs.”
Tweten said that aid will translate into jobs for oil and gas workers almost immediately once the money starts flowing.
The first $100-million stage of the Site Rehabilitation Program announced last month will be administrated by provinces and allow companies unable to pay for rehabilitation of oil and gas infrastructure to apply for up to $30,000 per site.