REGINA - The Government of Canada is investing $6.75 million to advance Saskatchewan's oil and natural gas industries while contributing to solutions to climate change. Ralph Goodale, Minister of Finance, announced the additional funding into research led by the Petroleum Technology Research Centre (PTRC) on behalf of R. John Efford, Minister of Natural Resources Canada. The funding will support the final phase of a project, located at EnCana's enhanced oil recovery site in Weyburn, Saskatchewan, on the sequestration and monitoring of carbon dioxide (CO2). "This project has shown us the enormous potential of permanently storing CO2 underground to reduce greenhouse gas emissions from fossil fuels," said Minister Goodale. "The additional funding will advance this technology further, will raise the awareness of its potential and will bring it into more widespread use, in keeping with the Government of Canada's commitment to addressing climate change." The first phase of the project, which ended in 2004, was run under the auspices of the International Energy Agency, and benefited greatly from EnCana's cooperation and support. It had 15 public- and private-sector funding partners and attracted significant international attention. The report from the initial phase, released in September 2004, concluded that geological conditions in the field are favourable for long-term storage of CO2 and that injecting CO2 underground also enhanced the recovery of oil from the partially depleted reservoir. The final phase will broaden the scope of the project by providing information to public policy-makers to allow them to define regulatory frameworks. It will also provide information that will allow government and industry to assure the public that geological CO2 storage is safe and secure for the long term. "The final phase will look at refining these methods and technologies, with the aim of reducing costs for both storage and enhanced oil-recovery techniques. At the same time, the final phase will involve expanding the Weyburn dataset and applying it to the development of a unique, world-class risk assessment database that can be used to critically assess the feasibility of geological CO2 storage at any other site in the world," says Mike Monea, Executive Director of the PTRC. "The PTRC will keep Canada as a world leader in CO2 storage, verification and monitoring research." The Regina-based PTRC was founded in 1998 by Natural Resources Canada, Saskatchewan Industry and Resources, the Saskatchewan Research Council and the University of Regina. The non-profit research and development corporation initiates and supports projects aimed at enhancing the production and recovery of Canadian petroleum resources by applying innovative technologies and engineering solutions. "The PTRC has proven to be a real success story for Saskatchewan and Canada, and has demonstrated that creativity and innovative technologies are key to the future," said Minister Goodale. "The Centre is an example of how continuing partnerships involving governments, universities, industry and international organizations will allow us to build a strong and sustainable province and country." Funding for this initiative will come from the Government of Canada's Sustainable Energy Science and Technology Strategy, announced in Budget 2005. The Government of Canada's approach to climate change is focused on making the right choices for Canada. This will ensure that the actions taken contribute to the long-term goals of building a sustainable economy for the 21st century, a healthier environment and strong communities, while affirming Canada's place in the world. FOR BROADCAST USE: The Government of Canada is investing to advance Saskatchewan's oil and natural gas industries while contributing to solutions to climate change. Today, Finance Minister Ralph Goodale announced an additional $6.75 million in funding for research on the sequestration and monitoring of carbon dioxide at a site in Weyburn, Saskatchewan. He made the announcement on behalf of Natural Resources Canada Minister John Efford. For more information, media may contact: Ghyslain Charron Tom Ormsby Media Relations Director of Communications Natural Resources Canada Office of the Minister Ottawa Natural Resources Canada (613) 992-4447 Ottawa (613) 996-2007 The following media backgrounder is also available: Petroleum Technology Research Centre
