The Government of Alberta, Canada will be investing up to $50 million to support the Alberta Drilling Accelerator, a test site for developing drilling technologies needed to reduce emissions, create jobs, and deliver energy.
The Alberta Drilling Accelerator is intended to be an open-access, technology-agnostic program that will allow for testing of drilling technologies in challenging environments including deep depths, high temperatures, and varying rock types. It will support technologies across the spectrum of the energy industry including in oil and gas, geothermal, critical minerals, and carbon capture, utilization, and storage.
A location for the hub is yet to be determined, but the target is for the Alberta Drilling Accelerator to start drilling by 2026 at the latest.
“The Alberta Drilling Accelerator means big things for oil and gas exploration in our province, but also for industries that will be vital for achieving our goal of carbon neutrality by 2050. We are setting the stage for innovation and prosperity, pushing Alberta’s drilling expertise to places it’s never been before,” said Danielle Smith, Premiere of Alberta.
“The Alberta Drilling Accelerator will take Alberta’s expertise from oil and gas to help us become the global leader in drilling innovation for industries like geothermal, to critical minerals,” added Rebecca Schulz, Minister of Environment and Protected Areas.Re
The $50 million investment of Alberta for the hub will come from the industry-funded Technology Innovation and Emissions Reduction (TIER) through a public-private investment model. A previous $750,000 investment had already been made by the Government of Alberta on the project for a feasibility study led by Eavor Technologies in partnership with the Canadian Association of Energy Contractors and Canadian Geothermal Energy Association. The study concluded that the project is both economically and environmentally viable.
The project has also received the support of major industry players like Tourmaline Oil Corp. and Halliburton. While no contracts have been signed with these companies, this bodes well for securing capital investment from the private sector.
“Alberta has the resources and expertise to become a world leader in geothermal innovation. The Alberta Drilling Accelerator will be a beacon for collaboration and the development of made-in-Alberta geothermal technologies that advance global energy security and carbon neutrality,” said John Redfern, President and CEO of Eavor Technologies.
“We are very proud to support the Alberta Drilling Accelerator because we believe the best, most innovative solutions come through collaboration. The Alberta Drilling Accelerator will not only cement the region’s place as a global leader in geothermal commercialization, but enhance efficiency, reduce environmental impacts and strengthen Alberta’s leadership in sustainable energy solutions,” said John Gorman, Halliburton Area Vice President, Canada.
