The Baseline Reduction Opportunity Assessment or as it’s most commonly known, BROA, is an Alberta government program aimed at raising awareness about energy consumption. Furthermore it also addresses related economic and environmental implications from methane emissions, with the goal of reducing methane emissions from upstream oil and gas activities in Alberta.
BROA was announced in January of 2022 with a total funding of about $15 million via the TIER (Technology Innovation and Emissions Reduction) fund, a unique solution to reducing emissions while avoiding federal interference. TIER is the standard for Greenhouse Gas Emission Offset Project Developers, and a relevant Alberta-approved quantification protocol.
The qualifying requirements for BROA have been expanded so that there is no longer an production cap. This implies that companies with output above 60,000 barrels of oil equivalent per day (BOE/d) in Alberta and midstream companies with no reported production, are now eligible to participate in BROA. All other qualifying requirements remain unchanged. Coverage under BROA is 80% with funding totally up to $200,000.
This program will be a key element of Alberta’s attempt to reduce methane emissions by identifying sources of emissions and recommending improvements. The BROA programme will offer the information and data necessary for project assessment and participation in various provincial and federal efforts to incentivize projects aimed at reducing methane emissions.
Another benefit to utilizing BROA is that it sets a baseline for future carbon credits projects. Approximately 90% of all BROA applications result in profitable carbon credits for the producer. These too can be quite lucrative for many producers. But there is a catch…
BROA is set to expire at the end of the month (Sept. 30) and if applications are not submitted by then, companies will forfeit their opportunity to benefit from the program now and for possible future carbon credits.
If you are an upstream or midstream producer who has not yet taken advantage of BROA potential, then the time is right for you to have a conversation with the knowledgeable professionals at Intricate. Contact Blair Hamer, your Client Champion now by sending an email to firstname.lastname@example.org or by clicking on this link to learn more about how you can obtain a FREE consultation.