Oil and Gas – Closure Spending
Under Directive 088: Licensee Lifecycle Management, all licensees with inactive inventory are required to meet an annual mandatory closure spend target. Under this directive, each licensee must report to the AER all its 2022 closure activities and closure spends to OneStop by March 31, 2023.
The AER strongly recommends that licensees begin their reporting as soon as possible to ensure they can resolve discrepancies or other issues while still meeting the deadline.
Under s. 3.6 of Manual 023: Licensee Lifecycle Management, licensees can update all costs numerous times for 2022. The most recent submission overwrites any prior submissions. The AER will not consider closure spending reported after the 2022 reporting deadline.
