Source of Funds
The BC OGRIS receives funds from the following sources:
- contributions from stakeholders, often targeted at specific projects or research themes.
- through a portion of the application fee for wells and a portion of the levy on oil and gas production in British Columbia.
Allocation of Funds
The BC OGRIS’s Board of Directors governs and manages the BC OGRIS. The Board of Directors comprise representatives of the BC Oil and Gas Commission, Canadian Association of Petroleum Producers (CAPP) and the Explorers and Producers Association of Canada (EPAC). The BC Oil and Gas Commission provides financial administration and technical support services to the BC OGRIS under a services agreement.
Funds are allocated to management and six project envelopes, based on an annual business plan developed by the BC OGRIS Board of Directors.