The government of Alberta is lifting curtailment requirements on conventional producers in an effort to drive investment and jobs in the oil-rich Canadian province.

Beginning Friday, all producers may drill new conventional oil wells without being subject to production limits, which were put in place last year to boost local commodity prices that had withered in a crude glut made worse by lack of takeaway capacity.

Existing producing wells will remain under the curtailment policy, the provincial government said in a statement.