diff --git a/sycl/plugins/opencl/ext_functions.inc b/sycl/plugins/opencl/ext_functions.inc
new file mode 100644
index 0000000000000..8a28048dc4424
--- /dev/null
+++ b/sycl/plugins/opencl/ext_functions.inc
@@ -0,0 +1,20 @@
+#ifndef _EXT_FUNCTION_INTEL
+#error Undefined _EXT_FUNCTION_INTEL macro expansion
+#endif
+
+#ifndef _EXT_FUNCTION
+#error Undefined _EXT_FUNCTION macro expansion
+#endif
+
+_EXT_FUNCTION_INTEL(clHostMemAlloc)
+_EXT_FUNCTION_INTEL(clDeviceMemAlloc)
+_EXT_FUNCTION_INTEL(clSharedMemAlloc)
+_EXT_FUNCTION_INTEL(clCreateBufferWithProperties)
+_EXT_FUNCTION_INTEL(clMemBlockingFree)
+_EXT_FUNCTION_INTEL(clMemFree)
+_EXT_FUNCTION_INTEL(clSetKernelArgMemPointer)
+_EXT_FUNCTION_INTEL(clEnqueueMemset)
+_EXT_FUNCTION_INTEL(clEnqueueMemcpy)
+_EXT_FUNCTION_INTEL(clGetMemAllocInfo)
+_EXT_FUNCTION(clGetDeviceFunctionPointer)
+_EXT_FUNCTION(clSetProgramSpecializationConstant)
diff --git a/sycl/plugins/opencl/pi_opencl.cpp b/sycl/plugins/opencl/pi_opencl.cpp
index cb8f9502c2f20..12764543cdf0c 100644
--- a/sycl/plugins/opencl/pi_opencl.cpp
+++ b/sycl/plugins/opencl/pi_opencl.cpp
@@ -25,6 +25,8 @@
 #include <iostream>
 #include <limits>
 #include <map>
+#include <memory>
+#include <mutex>
 #include <sstream>
 #include <string>
 #include <vector>
@@ -71,19 +73,93 @@ CONSTFIX char clGetDeviceFunctionPointerName[] =
 
 #undef CONSTFIX
 
+typedef CL_API_ENTRY cl_int(CL_API_CALL *clGetDeviceFunctionPointer_fn)(
+    cl_device_id device, cl_program program, const char *FuncName,
+    cl_ulong *ret_ptr);
+
+typedef CL_API_ENTRY cl_int(CL_API_CALL *clSetProgramSpecializationConstant_fn)(
+    cl_program program, cl_uint spec_id, size_t spec_size,
+    const void *spec_value);
+
+struct ExtFuncsPerContextT;
+
+namespace detail {
+template <const char *FuncName, typename FuncT>
+std::pair<FuncT &, bool &> get(ExtFuncsPerContextT &);
+} // namespace detail
+
+struct ExtFuncsPerContextT {
+#define _EXT_FUNCTION_INTEL(t_pfx)                                             \
+  t_pfx##INTEL_fn t_pfx##Func = nullptr;                                       \
+  bool t_pfx##Initialized = false;
+
+#define _EXT_FUNCTION(t_pfx)                                                   \
+  t_pfx##_fn t_pfx##Func = nullptr;                                            \
+  bool t_pfx##Initialized = false;
+
+#include "ext_functions.inc"
+
+#undef _EXT_FUNCTION
+#undef _EXT_FUNCTION_INTEL
+
+  std::mutex Mtx;
+
+  template <const char *FuncName, typename FuncT>
+  std::pair<FuncT &, bool &> get() {
+    return detail::get<FuncName, FuncT>(*this);
+  }
+};
+
+namespace detail {
+
+#define _EXT_FUNCTION_COMMON(t_pfx, t_pfx_suff)                                \
+  template <>                                                                  \
+  std::pair<t_pfx_suff##_fn &, bool &> get<t_pfx##Name, t_pfx_suff##_fn>(      \
+      ExtFuncsPerContextT & Funcs) {                                           \
+    using FPtrT = t_pfx_suff##_fn;                                             \
+    std::pair<FPtrT &, bool &> Ret{Funcs.t_pfx##Func,                          \
+                                   Funcs.t_pfx##Initialized};                  \
+    return Ret;                                                                \
+  }
+#define _EXT_FUNCTION_INTEL(t_pfx) _EXT_FUNCTION_COMMON(t_pfx, t_pfx##INTEL)
+#define _EXT_FUNCTION(t_pfx) _EXT_FUNCTION_COMMON(t_pfx, t_pfx)
+
+#include "ext_functions.inc"
+
+#undef _EXT_FUNCTION
+#undef _EXT_FUNCTION_INTEL
+#undef _EXT_FUNCTION_COMMON
+} // namespace detail
+
+struct ExtFuncsCachesT {
+  std::map<pi_context, ExtFuncsPerContextT> Caches;
+  std::mutex Mtx;
+};
+
+ExtFuncsCachesT *ExtFuncsCaches = nullptr;
+
 // USM helper function to get an extension function pointer
 template <const char *FuncName, typename T>
 static pi_result getExtFuncFromContext(pi_context context, T *fptr) {
   // TODO
   // Potentially redo caching as PI interface changes.
-  thread_local static std::map<pi_context, T> FuncPtrs;
+  ExtFuncsPerContextT *PerContext = nullptr;
+  {
+    assert(ExtFuncsCaches);
+    std::lock_guard<std::mutex> Lock{ExtFuncsCaches->Mtx};
+
+    PerContext = &ExtFuncsCaches->Caches[context];
+  }
+
+  std::lock_guard<std::mutex> Lock{PerContext->Mtx};
+  std::pair<T &, bool &> FuncInitialized = PerContext->get<FuncName, T>();
 
   // if cached, return cached FuncPtr
-  if (auto F = FuncPtrs[context]) {
+  if (FuncInitialized.second) {
     // if cached that extension is not available return nullptr and
     // PI_INVALID_VALUE
-    *fptr = F;
-    return F ? PI_SUCCESS : PI_INVALID_VALUE;
+    *fptr = FuncInitialized.first;
+    return *fptr ? PI_SUCCESS : PI_INVALID_VALUE;
   }
 
   cl_uint deviceCount;
@@ -115,14 +191,17 @@ static pi_result getExtFuncFromContext(pi_context context, T *fptr) {
   T FuncPtr =
       (T)clGetExtensionFunctionAddressForPlatform(curPlatform, FuncName);
 
+  // We're about to store the cached value. Mark this cache entry initialized.
+  FuncInitialized.second = true;
+
   if (!FuncPtr) {
     // Cache that the extension is not available
-    FuncPtrs[context] = nullptr;
+    FuncInitialized.first = nullptr;
     return PI_INVALID_VALUE;
   }
 
+  FuncInitialized.first = FuncPtr;
   *fptr = FuncPtr;
-  FuncPtrs[context] = FuncPtr;
 
   return cast<pi_result>(ret_err);
 }
@@ -561,9 +640,6 @@ static bool is_in_separated_string(const std::string &str, char delimiter,
   return false;
 }
 
-typedef CL_API_ENTRY cl_int(CL_API_CALL *clGetDeviceFunctionPointer_fn)(
-    cl_device_id device, cl_program program, const char *FuncName,
-    cl_ulong *ret_ptr);
 pi_result piextGetDeviceFunctionPointer(pi_device device, pi_program program,
                                         const char *func_name,
                                         pi_uint64 *function_pointer_ret) {
@@ -1304,10 +1380,6 @@ pi_result piKernelSetExecInfo(pi_kernel kernel, pi_kernel_exec_info param_name,
   }
 }
 
-typedef CL_API_ENTRY cl_int(CL_API_CALL *clSetProgramSpecializationConstant_fn)(
-    cl_program program, cl_uint spec_id, size_t spec_size,
-    const void *spec_value);
-
 pi_result piextProgramSetSpecializationConstant(pi_program prog,
                                                 pi_uint32 spec_id,
                                                 size_t spec_size,
@@ -1383,9 +1455,21 @@ pi_result piextKernelGetNativeHandle(pi_kernel kernel,
 // pi_level_zero.cpp for reference) Currently this is just a NOOP.
 pi_result piTearDown(void *PluginParameter) {
   (void)PluginParameter;
+  delete ExtFuncsCaches;
+  ExtFuncsCaches = nullptr;
   return PI_SUCCESS;
 }
 
+pi_result piContextRelease(pi_context Context) {
+  {
+    std::lock_guard<std::mutex> Lock{ExtFuncsCaches->Mtx};
+
+    ExtFuncsCaches->Caches.erase(Context);
+  }
+
+  return cast<pi_result>(clReleaseContext(cast<cl_context>(Context)));
+}
+
 pi_result piPluginInit(pi_plugin *PluginInit) {
   int CompareVersions = strcmp(PluginInit->PiVersion, SupportedVersion);
   if (CompareVersions < 0) {
@@ -1397,6 +1481,8 @@ pi_result piPluginInit(pi_plugin *PluginInit) {
   // PI interface supports higher version or the same version.
   strncpy(PluginInit->PluginVersion, SupportedVersion, 4);
 
+  ExtFuncsCaches = new ExtFuncsCachesT;
+
 #define _PI_CL(pi_api, ocl_api)                                                \
   (PluginInit->PiFunctionTable).pi_api = (decltype(&::pi_api))(&ocl_api);
 
@@ -1420,7 +1506,7 @@ pi_result piPluginInit(pi_plugin *PluginInit) {
   _PI_CL(piContextCreate, piContextCreate)
   _PI_CL(piContextGetInfo, clGetContextInfo)
   _PI_CL(piContextRetain, clRetainContext)
-  _PI_CL(piContextRelease, clReleaseContext)
+  _PI_CL(piContextRelease, piContextRelease)
   _PI_CL(piextContextGetNativeHandle, piextContextGetNativeHandle)
   _PI_CL(piextContextCreateWithNativeHandle, piextContextCreateWithNativeHandle)
   // Queue
diff --git a/sycl/test/abi/pi_opencl_symbol_check.dump b/sycl/test/abi/pi_opencl_symbol_check.dump
index caf4f72b48adb..2e3b45e571f50 100644
--- a/sycl/test/abi/pi_opencl_symbol_check.dump
+++ b/sycl/test/abi/pi_opencl_symbol_check.dump
@@ -8,6 +8,7 @@
 # UNSUPPORTED: libcxx
 
 piContextCreate
+piContextRelease
 piDeviceGetInfo
 piDevicesGet
 piEnqueueMemBufferMap