Source of Funds
The SCEK Fund has an annual budget of roughly $1 million, generated through a portion of the application fee for wells and a portion of the levy on oil and gas production in British Columbia. The current funding agreement is in place until December 2009.
Allocation of Funds
The Oil and Gas Commission manages the Fund on behalf of the Canadian Association of Petroleum Producers (CAPP) and the Small Explorers and Producers Association of Canada (SEPAC).
Funds are allocated to management and five project envelopes, based on an annual business plan developed by the SCEK Fund Steering Committee.
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