Alberta is home to the best drilling expertise in the world. Decades of oil and gas development has made the province a proven drilling leader, while Alberta-led advancements in geothermal, lithium and other areas continue growing Alberta’s reputation as a powerhouse in energy innovation.
However, many promising technologies and products have challenges reaching the market due to high costs and limited access to demonstration sites where testing can be done in real-world settings. With the right resources, Alberta’s energy developers can bring drilling technologies to market faster and more affordably.
Alberta’s government is investing more than $20 million in industry-funded TIER dollars to launch the Alberta Drilling Accelerator program and keep pushing Alberta’s drilling expertise to greater heights. Delivered through Emissions Reduction Alberta, this funding will help Alberta companies advance new and emerging technologies, reduce emissions and, ultimately, increase responsible energy production around the world.
“Alberta’s drilling expertise is second to none. The world needs energy and Alberta has the experience, geology, expertise and innovative spirit needed to deliver it. This funding is all about getting the next generation of drilling tech out of the lab and into the field, powering the world and Alberta’s economy at the same time.”
Rebecca Schulz, Minister of Environment and Protected Areas
“Drilling technology is highly relevant to Emissions Reduction Alberta’s mandate, as it offers a potential pathway to direct emissions reduction in the oil and gas sector while also playing a critical role in commercializing technologies in emerging areas like geothermal and critical minerals extraction. We look forward to sharing the scope of this funding in the fall.”
Justin Riemer, CEO, Emissions Reduction Alberta
This new funding program will help speed up the development of geothermal, helium, critical minerals, carbon capture, utilization and storage, and other technologies and commodities that rely on Alberta’s world-class drilling expertise, further establishing Alberta’s global leadership in providing affordable, reliable, responsibly produced energy.
More details on the program will be announced when it officially launches this fall.
This is phase one of the province’s Alberta Drilling Accelerator. Future phases and initiatives will be developed as government continues accelerating new technologies that rely on Alberta’s world-class drilling expertise.
Quick facts
The Alberta Drilling Accelerator program will launch in fall 2025, with planning and engagement taking place this summer.
Funding for the program comes from the industry-funded Technology Innovation and Emissions Reduction (TIER) fund.
Demand for new and more efficient technologies is rising globally, and Alberta is well-positioned to capitalize. For example, cumulative geothermal investment is poised to reach $1 trillion by 2050, while investment for oil and gas, carbon capture and storage and other sectors continues to grow.