HC Deb 16 February 1965 vol 706 cc992-3
19. Mr. Eldon Griffiths

asked the Minister of Power how soon he expects to be able to assess the prospects of oil or natural gas being found in commercial quantities in the North Sea.

Mr. Frederick Lee

This will depend on the results of exploration, but it could take up to five years or more.

Mr. Griffiths

Will the Minister bear in mind that international experience of the development of oilfields suggests that fuel obtained in this way can very rapidly change the whole fuel economy of the country which benefits from it, and will he, therefore, be careful not to commit himself to any firm figures for fuel from other areas of the economy before he has found out what is likely to be obtained from the North Sea?

Mr. Lee

Those matters will be taken into consideration.

Mr. Hector Hughes

As the North Sea is not private property, will my right hon. Friend set up a public body with its centre at the nearest point on land, say, at Aberdeen, to control and exploit any benefits which may result from the discovery of oil or gas under the North Sea?

Mr. Lee

I doubt that the Gas Council, which already has such powers, would take very kindly to that suggestion, even if it were based on Aberdeen. But it is the fact that exploration is now going ahead. The shipyards have gained appreciably in orders for drilling rigs and so forth, to the extent of about £10½ million, I think, and I hope that we shall get good results from the £80 million now invested in the project.

Mr. Geoffrey Lloyd

Will the right hon. Gentleman, therefore, again read the words of his party at the election and express his thanks to the previous Government for getting on with this very important work?

Mr. Lee

I should love to find something to thank the last Government for, but as yet I have not yet found it.

Mr. Manuel

Does my right hon. Friend recognise that the prospective discoveries of oil or gas under the North Sea will be publicly owned assets, and will he assure the House that he will not allow their exploitation by private interests against the public interest?

Mr. Lee

I hope my hon. Friend realises that all gas or oil emanating from the North Sea is the property of the nation and that only the Gas Council can use the gas. I have not the slightest intention of changing that position.