Projects approved as part of the IRCP represent millions in new private-sector investment, creating jobs and stimulating economic activity. — Photo courtesy Trans Mountain and EVRAZ
The application process is underway for the 2018 Infrastructure Royalty Credit Program (IRCP), which is open to oil and gas companies interested in building or upgrading roads and pipelines.
Projects approved as part of the IRCP represent millions in new private-sector investment, creating jobs and stimulating economic activity.
As in previous years, a company must fully fund and complete an approved infrastructure project before it can apply to recover up to 50% of the project’s costs in the form of royalty deductions.
Each application is evaluated according to its potential to generate royalties, accelerate investment, reduce emissions, and increase access to resource areas.
Applications will be accepted by the Ministry of Energy, Mines and Petroleum Resources until April 12, 2018.
More details about the IRCP and British Columbia’s natural gas royalties and royalty programs can be found online: https://www2.gov.bc.ca/gov/content/industry/natural-gas-oil/oil-gas-royalties/royalties-royalty-programs
