The Government of Saskatchewan announced $200 million for the second phase of the province’s Accelerated Site Closure Program (ASCP).
The money will support more than 2,000 full-time equivalent jobs and reclaim up to 8,000 inactive wells and facilities over two years.
Phase Two of the program will run from January 2021 to March 2022. The newest funding will enable oil and gas companies in the province to access additional program funds to accelerate the retirement of inactive wells have reached the end of their life cycle.
Energy and Resources Minister Bronwyn Eyre says the province’s top priority is getting Saskatchewan oil and gas service workers back to work.
“The ASCP prioritizes Saskatchewan companies and is widely regarded as pragmatic, efficient and fair,” said Eyre.
The Phase One allocation of $100 million, announced in May, is part of the federal COVID Economic Response Plan. In Saskatchewan, more than $94 million in work packages are currently on track for allocation by the end of 2020 in every oil and gas region of the province, including $33 million in Estevan, $17 million in Swift Current, $16 million in Kindersley and $28 million in Lloydminster.