§ 24. Sir C. Osborne
asked the Minister of Power how much the oil companies exploring the North Sea, which are paying £25 a square kilometre for the privilege of working their areas, have already paid to the Treasury; what is the estimated revenue for the first six years of their agreements; and how much of this has been spent, and how much he proposes to spend, in the primary Continental Shelf exploration.
§ Mr. Gunter
So far, about £3 million has been received from companies holding petroleum licences for areas in the North Sea. It is not possible to estimate revenue for the first six years from these licences. I have no power to incur expenditure on Continental Shelf exploration.