Enregistrement :
6
de
14
(2010-04-23
à
2010-09-22)
Politique ou Programme
Constructive dialogue on the policy direction of the government with the intent of convincing the government to repeal the Specified Investment Flow Through (SIFT) tax for oil and gas royalty trusts.
Règlement
Meet with government officials and ministry employees on the "Turning the Corner Plan" with regards to CO2 emissions and brief them on the challenges faced by oil and gas companies looking to use CO2 for enhanced oil recovery and how government regulation could impact the availability of CO2 supply and the cost.
Subvention, Contribution ou autre avantage financier
ARC Resources is the operator of the Heartland Area Redwater Project - a CO2 sequestration demonstration project being run in partnership with the Alberta Research Council. Phase 1 of this project has been completed, with the Alberta Government through AERI funding $500,000, NRCan committed to funding $239,000, ARC funding $1.8 mm and other industry participants having funded $200,000. ARC has applied to both the Alberta government and the Federal government for 1/3 funding each of the expected $47.5 million required for phases 2 and 3 of this project with industry being expected to cover the final third. ARC has been notified that the project has been selected to receive funding from the ecoEnergy Technology Initiative to cover the 1/3 of the cost requested from the Federal government up to a maximum of $12,083,327. The contract has been structured so that ARC can submit a claim for payment of costs incurred on the project prior to 2010. ARC expects to receive approxmiately $300,000 in 2010 for prior costs.
ARC is also running a CO2 enhanced oil recovery pilot at the Redwater field and may look for monetary assistance with that project as well.
Applying for Scientific Research and Experimental Development (SR&ED) tax credits from Canada Revenue Agency for ARC's initiatives in piloting enhanced oil recovery using CO2.