Alberta plans to build drilling site to act as testing ground for new technologies

An oil rig drills a well under moon light near Cremona, Alta., Sunday, Sept. 24, 2023. Canada has the third largest oil reserves in the world and is the world's fourth largest oil producer.

Alberta's government says it will invest up to $50 million to support the creation of a first-in-Canada drilling test site to support technology development in the oil, gas, geothermal and lithium industries.An oil rig drills a well under moonlight near Cremona, Alta. in September 2023. Alberta's government announced Monday that it will invest up to $50 million to support the creation of a first-in-Canada drilling test site.

The site would would allow companies to test and develop drilling techniques, accelerating the geothermal, helium, critical minerals, carbon capture and other industries relying on the drilling sector, the province said in a news release Monday."What we're doing here today is setting the stage for innovation," Premier Danielle Smith said in a statement.

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