Alberta is home to arguably the best drilling expertise in the world. Decades of responsible oil and gas development has made the province a proven drilling leader, while Alberta-led advancements in geothermal, lithium and other areas continue strengthening its reputation as a powerhouse in energy innovation.
Yet many promising innovations never reach the market due to high costs and limited ability to test in real-world settings. With the right resources, developers can bring drilling technologies to market faster and more affordably.
To support more drilling technologies, Alberta’s government is investing approximately $20 million to launch phase one of the Alberta Drilling Accelerator program. Delivered through Emissions Reduction Alberta, this funding will help advance new and emerging technologies, reduce emissions and, ultimately, increase responsible energy production around the world.
“Nobody drills better than Alberta. The world needs energy and Alberta has the experience, expertise and innovative spirit needed to help deliver it. This funding is all about getting the next generation of exciting 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 will be announced when the program officially launches this fall.
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.
Media inquiries
Ryan Fournier
Ryan.Fournier@gov.ab.ca
780-232-2213
Press Secretary, Environment and Protected Areas