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Part of Strategies, initiatives and plans

Mature Asset Engagement Report

Stakeholder feedback and stakeholder recommendations to manage maturing oil and gas assets.

On this page:

Overview

Legacy infrastructure presents a significant challenge for oil and gas-producing jurisdictions worldwide, including Alberta. Alberta's government will proactively address this issue through development of the Mature Asset Strategy.

The Mature Asset Strategy aims to maximize value and optimize resource recovery from mature oil and gas assets while effectively managing the closure of inactive sites. Recognizing the ongoing transformation within Alberta’s energy sector, the strategy, when delivered, will address:

  • incentivizing ongoing investment
  • reducing regulatory barriers
  • fostering technological innovation to improve economic and environmental outcomes
  • streamlining the effective closure of inactive sites

By strategically managing mature assets, we seek to sustain employment, extend the productive lifespan of assets and responsibly steward resources to support communities and bolster the provincial economy.

Engagement

Alberta’s government engaged stakeholders to inform the development of a strategy for managing these maturing oil and gas assets. Stakeholder working group sessions took place between August and December 2024.

These working groups represented 6 major policy areas: 

  • Municipal taxes and rising operating costs
  • Resource conservation and enhanced oil recovery
  • Economic opportunities
  • Shared resources and dedicated closure entities
  • Closure liability funding alternatives
  • Risk-based closure regulatory review
Graphical representation of the six major policy areas examined during the Mature Asset Strategy engagement, as listed.

The stakeholders represented groups, including: 

  • multiple provincial government ministries
  • industry trade associations
  • non-governmental organizations
  • provincial and municipal agencies
  • exploration and production companies
  • oilfield services providers
  • engineering and environmental consultants
  • experts in municipal taxation and property rights advocacy

Timeline

  • Step 1

    Engagement kick-off.

    Summer 2024
  • Step 2

    Stakeholder engagement.

    Fall/Winter 2024
  • Step 3

    Compiling feedback and what we heard from engagements, drafting of report and recommendations.

    We are here
  • Step 4

    Review recommendations and prepare next steps.

    Spring/Summer 2025
  • date 1
  • date 2
  • date 3
  • date 4

Report and feedback

Read the Mature Asset Strategy What We Heard and Recommendations report.

Recommendations

Alberta's government is currently reviewing the recommendations and will provide more details in the months ahead.

Contact

Connect with us about the Mature Asset Strategy:

Email: MatureAssetStrategy@gov.ab.ca

News

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