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Proposals open for $60-M oil and gas sector fund

Community and companies — commercial and non-commercial — can now start applying to get their piece of a 10-year, $60-million Innovation and Business Development Fund.

The fund, established as part of Husky Energy’s West White Rose sanctioning and delivered in $6-million annual increments, will be used to expand local supply, export and diversification opportunities in the province’s oil and gas sector.

It’s also expected to attract investment in areas where there are gaps in innovation, technology and supply chain, while also improving the industry’s competitiveness by knocking down costs related to exploration, development and operation.

Approved projects will have up to 50 per cent of eligible costs covered.

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