The Saskatchewan’s government has offered funding for three projects including Steel Reef, Highrock Minard, and Ridgeback resources. These projects are set to create job opportunities, increase the capacity of gas production capability, and lower methane emissions.
The projects are eligible for the Oil and Gas Processing Investment Incentive (OGPII) and the Saskatchewan Petroleum Innovation Incentive (SPII). Both of these investment incentives offer transferable royalty credits in the event that facilities are installed and private capital has been invested.
When combined, it is believed that the three projects will lower the methane emissions in the province by about 251, 000 tonnes each year. The projects include:
- Highrock Minard– This project is a joint effort of Highrock Resources Ltd. as well as Kindersley-based Verdera Energy which is based in Kindersley. It has a total investment of $1.5 million and has been qualified for the SPII program.
- Steel Reef– This project has received conditional approval under the OGPII program for a venture to expand gas distribution centers. This has already resulted in the creation of about 50 building industry jobs. This investment would ensure the facility’s long-term viability and significantly increase its throughput capacity.
- Ridgeback Resources– This project has also been given conditional approval for the OGPII program to help finance the development of a new gas fractionation plant and relevant facilities near Innes. This value-added project, which will cost about $12 million to complete, is due to be completed.