Alberta Energy Regulator announces $50 million increase to Closure Spend Requirement in 2025
25 Julio 2024 - 1:14PM
The Alberta Energy Regulator’s industry-wide closure spend
requirement for 2025 has been set at $750 million, a $50 million
increase over last year’s requirement of $700 million. See Bulletin
2024-19 for more information.
Closure spend requirements specify the minimum amount licensees
are required to spend on closure work each year.
As of June 30, 2024, the reported industry closure spend for
2023 was about $923 million, which includes the remaining funding
from the Government of Alberta’s Site Rehabilitation Program.
Industry-funded closure exceeded the $700 million set for 2023 by
22%. We will provide more details on 2023 closure spending,
including updated industry-reported spend, in the 2023 Liability
Management Performance Report for publication in late 2024.
Each year, the AER reviews and determines the industry-wide
closure spend requirement, accounting for such factors as changes
in inactive oil and gas infrastructure, commodity pricing
fluctuations, closure work completed in the previous year, and
unforeseen exceptional circumstances.
For more information, see the closure spend quotas webpage and
the 2022 Liability Management Performance Report.
About the Alberta Energy Regulator
The AER ensures the safe, efficient, orderly, and
environmentally responsible development of energy resources in
Alberta through our regulatory activities. For more information
visit aer.ca. Contact Email:
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