REGINA — The Government of Saskatchewan is extending the Oil Infrastructure Investment Program (OIIP),
According to Sask. Energy and Resources, the move will expand market access for Saskatchewan oil and support the continued development of carbon dioxide (CO2) pipelines.
Since OIIP was introduced in 2020, 74,000 barrels per day of new oil pipeline capacity have been added through the program. To date, over $100 million in private capital investment has been secured through OIIP, with a further $380 million associated with projects that have been conditionally approved.
OIIP will continue accepting new applications until March 31, 2029. The program will continue to offer a 20 per cent royalty tax credit, up to a maximum of $40 million, on qualifying oil or CO2 pipeline projects.
"The extension of the Oil Infrastructure Investment Program will help the province remain a competitive destination for investment, especially as companies navigate these economically challenging times," Husky Midstream CEO Shane Cooke said.
"As a company, we benefited from our participation in the program when expanding our Saskatchewan operations and believe its continuation will encourage future investment in transportation infrastructure that supports new production opportunities and industry growth."
For more information about OIIP, including links to application documents, visit: .
