Why Regulatory Compliance Is an Important Part of Your Business
Oil and gas operations within Canada are strictly regulated due to their scale and prominence. Exploration, production, and expansion of oil and gas must adhere to the regulations set in place by Federal and Provincial governments. The federal government regulates offshore areas, lands set aside for Indigenous populations, and international/interprovincial aspects, while provincial government is typically responsible for their own resources and regulatory compliance.
Each province (and most territories) has their own regulator responsible for monitoring and developing guidelines for the oil and gas industry. Alberta has the Alberta Energy Regulator (AER), Ontario has the Ontario Ministry of Natural Resources, and so on. Regulators communicate with oil and gas companies to ensure that the put in place regulations are being adhered to and regulatory compliance has been met.
Why Should I Try To Meet Regulatory Compliance?
With the ever-increasing number of laws, regulatory compliance can be harder and harder to meet as it touches every part of the oil and gas industry. But, the cost of noncompliance can be momentous.
Companies that are found to be non-compliant face production delays, cost overruns, and complete shutdown and business owners can be met with heavy fines and court hearings. Last year, the Alberta Energy Regulator announced that they are going to be more discerning in who is eligible for licenses in the oil and gas industry, and a history of non-compliance can prevent an oil and gas company from getting future projects done.
How Do I Achieve Regulatory Compliance?
It’s a lot of work to be regulatory compliant. You could hire your own in-house team to handle it. But, that requires employee training, equipment purchasing, and resource dedication. Often, the better route is to partner up with a company with a dedicated and experienced regulatory compliance team that can offer a vast array of services.
PIT has over 15 years of experience in oil and gas regulatory compliance that can be used to serve your company better. No one wants to be slapped with fees due to inexperience in-house staff, or see their production come to a standstill due to the insufficient dedication of resources. We offer knowledgeable staff to complete thorough testing such as Frac Monitoring, Annual Pressure Surveys, Surface Casing Vent Tests, Gas Migration Testing, Spot Gas Flow testing, Gas-to-Oil Ratio testing, Segregation between Zones testing, Packer Isolation (IPT) Testing, D13 Suspended well tests, AND MORE.
Become regulatory compliant at a competitive price with the help of the PIT Crew.
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