Directive 088 (2022 Draft): Licensee Life-Cycle Management
Release Date: November 07, 2022
Effective date: November 7, 2022
Released with Bulletin 2022-35.
Purpose of this Directive
- introduces a holistic assessment of a licensee’s capabilities and performance across the energy development life cycle, which will be supported by the licensee capability assessment (LCA);
- introduces the Licensee Management Program, which determines how licensees will be managed throughout the energy development life cycle;
- introduces the two inventory reduction programs: mandatory closure spend targets and closure nomination;
- updates application requirements related to the licence transfer process;
- outlines security collection under this directive; and
- Manual 023: Licensee Life-Cycle Management was developed alongside Directive 088 to provide further details and clarity.
It outlines how information, particularly financial, reserves, closure, and compliance information, will be used to enable the AER to assess the capabilities of licensees to meet their regulatory and liability obligations throughout the energy development life cycle; administer our liability management programs; and ensure the safe, orderly, and environmentally responsible development of energy resources in Alberta throughout their life cycle.