Energy and Resources Minister Bronwyn Eyre announced a Helium Action Plan based around royalty credits, drilling incentives and regulatory updates on Monday.
“Helium, as we know, is far more than party balloons,” said Eyre.
Patty Thomas, vice-president of geosciences for North American Helium, said Saskatchewan is the right jurisdiction for helium exploration, development and production.
Since it doesn’t react with other elements, it has a tendency to escape into space — unless it meets a geologic trap.
Part of the plan involves the expansion of an existing tax credit — the Saskatchewan Petroleum Innovation Incentive — to include helium projects.
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