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Oil sector is cleaning its wells better, says Energy Regulatory Agency

Natasha Kumar By Natasha Kumar Jan18,2024

The oil sector cleans its wells better, says Energy Regulatory Agency

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More than 1, $2 billion has been spent on closing oil and gas sector facilities in 2022.

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The Voice Regulation Agency Alberta Energy (AER) believes the oil and gas sector is making progress in cleaning up abandoned wells, pipelines and other energy facilities.

The AER draws these conclusions in its first report on the subject.

It reveals that industry licensees spent more than $696 million in 2022 to close facilities, exceeding the state requirement by 65%. AER, set at $422 million.

According to the report, 90% of permit holders have met their 2022 closure quota, while 51 permit holders have failed to comply with an outstanding amount of $4.2 million.

In total, more than $1.2 billion was spent on oil and gas facility closures in 2022. This includes eligible expenses reported by licensees and closure expenses funded by the Government of Alberta's Site Rehabilitation Program (SRP) and the Orphan Wells Association (OWA).

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According to the AER, between 2021 and 2022, nearly 4,400 wells have been rehabilitated, approximately 8,400 were suspended, while the number of inactive wells saw a reduction of almost 8,000.

In 2022, the number of inactive wells increased from 91,000 to 83,000 for a drop of 9%.

In a press release, AER President and CEO Laurie Pushor said the report's findings are a clear indication that the industry is getting better at cleaning wells, pipelines and oil and gas facilities.

“While this report shows significant improvement…continued efforts are needed to ensure a sustainable downward trend in reducing the number of inactive wells in the future,” she said. clarified.

Also in a press release, the Minister of Energy and Minerals, Brian Jean, believes that the AER report shows that the promise of Alberta taking action on the issue of oil and gas cleanup makes a big difference.

Industry is doing its part , he considers.

Same story from the Minister of Environment and Protected Areas of Alberta, Rebecca Schulz , who is delighted with the results of the report.

We will continue this momentum. In the coming weeks, two new pilot projects will begin testing ways to make the current process of issuing reclamation certificates faster, clearer and more efficient.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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