Oil and Gas Processing Investment Incentive (OGPII)

By mmuise
Description:

The Oil and Gas Processing Investment Incentive (OGPII) offers transferable oil and gas royalty/freehold production tax credits for qualified greenfield or brownfield value-added projects at a rate of 15% of eligible program costs. OGPII is open to value-added projects across all segments of Saskatchewan's oil, gas, helium, and lithium sectors as well as chemical fertilizer facilities.


Comments on Funding:

OGPII has a project-specific awarded credit cap of CAD$75 million (i.e., a CAD$500 million project) for oil, gas, helium and lithium projects, and CAD$70 million for chemical fertilizer projects.

Deadline: March 31, 2024
Eligibility:

Applicants must:

  • be companies;
  • have greenfield or brownfield value-added projects across all segments of Saskatchewan's oil, gas, helium, and lithium sectors as well as chemical fertilizer facilities;
  • have eligible activities that add or create value:
    a) by processing, transforming, and/or upgrading upstream oil, gas, helium and lithium industry products,
    b) by commercializing upstream oil and gas production byproducts and waste products, or
    c) by increasing value-added chemical fertilizer production.
  • have projects including new (greenfield) facilities or expansions (brownfield) of existing facilities, as well as all enabling infrastructure that is required to bring the project into operation;
  • have projects resulting to a significant increase processing capacity in Saskatchewan's oil, gas, helium, lithium or chemical fertilizer industry;
  • have projects that involve a minimum investment of CAD$10 million in eligible costs.
Application Steps:

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Documentation Needed:

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Other Things to Note:

The ministry will be accepting applications from 8:00 a.m. (CST) on July 8, 2019 to March 31, 2024.

About the author
mmuise