HL Deb 21 June 1972 vol 332 cc222-3

2.41 p.m.

LORD BALOGH

My Lords, I beg leave to ask the Question which stands in my name on the Order Paper.

The Question was as follows:

To ask Her Majesty's Government on precisely what basis and statistical calculation the statement was made that participation by British companies in the North Sea was 43 per cent.; and whether this was on the basis of the amount spent, the number of bore-holes drilled, the participation in consortia weighted by the importance of the find, the proportion of the total reserves discovered or just the number of companies participating in consortia irrespective of their percentage share or the importance of the reserves established.

THE EARL OF LIMERICK

My Lords, 43 per cent. is the equity interest of British participants in licences awarded under the 4th round expressed as a proportion of the total area licensed under that round. The comparable figure for all licences currently in force is 40 per cent.

LORD BALOGH

My Lords, I thank the noble Lord for his Answer. May we take it that the importance of the finds was not really evaluated in this Answer?

THE EARL OF LIMERICK

My Lords, this evidently is so, because at the time when the licences are granted there is no telling what may be found.

LORD WYNNE-JONES

My Lords, have Her Majesty's Government reserved the right to revoke the licences or to buy them back?

THE EARL OF LIMERICK

My Lords, the terms on which these licences require to be surrendered are set out at the time the licences are granted.