![]() ![]() "Over time, we will get that cleaned up." That's what the inventory reduction and the requirement for annual spending targets will do," she said in an interview. You've got a target and every year you're chipping away at it, paying it down and eventually you'll have that mortgage paid off. Many experts are welcoming the changes, even though it may not result in companies having to spend more money on reclamation work.Įnergy Minister Sonya Savage is hopeful the new annual targets will help to address the problem. The government will formally announce the new program on Thursday. ![]() The estimated cost of cleanup varies greatly but is considered to be in the tens of billions of dollars. The biggest change will be introducing a requirement for companies to spend a minimum amount of money every year toward cleanup of oil wells, pipelines and facilities.Īlberta has more than 90,000 inactive wells, in addition to 73,000 abandoned wells that have been dismantled but not fully reclaimed. ![]() The Alberta government is revamping how it regulates oil and gas producers in an attempt to start addressing the province's swelling inventory of inactive oil and gas wells. ![]()
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