- increasing the recovery from oil and gas deposits resulting in incremental production and royalties;
- finding a flexible commercial technical solution to the gas over bitumen issue that will allow efficient and orderly production of both resources improving the recovery of bitumen resources by in situ technologies;
- improving recovery of natural gas from coal seams; and
- disseminating technology and information developed through the projects supported by this program.
Successful applicants received a royalty adjustment of up to 30% of approved project costs. Industry must provide the remaining 70% or more of total project costs. It is anticipated that successful technologies supported by this program will enhance resource recovery and increase royalties to fully recover, over time, the program costs. The total industry/government commitment to important new technologies, assuming full subscription of the program, will be $1.15 billion with Alberta Energy contributing $195 million in royalty credits and industry contributing the remaining $955 million.
The IETP contributed a portion of its funding to CO2 Royalty Credit projects. The paper, Fundamental Geochemical Processes between CO2, Water and Minerals (PDF, 366 KB) was developed in order to provide knowledge around the mechanisms and fundamental processes.
Successful applicants must submit the following reports:
- Annual (Word, 75 KB) and Final (Word, 76 KB) technical reports; and
- Annual and final intellectual property reports on any new technology developed through an IETP project.
Province supports nine innovative energy projects (May 14, 2009)
Province supports new projects to study innovative energy (November 13, 2007)
Province supports three innovative energy projects (March 20, 2007)
Projects will advance the development of province's energy resources (November 4, 2005)