§ Mr. Rostasked the Secretary of State State for Energy how many oil companies have now agreed in principle to surrender a 51 per cent. interest in their North Sea exploration and developments; with how many concerns negotiations are under way; and when details of the first agreement will be announced.
§ Mr. John smithFollowing detailed discussions with all the companies concerned in existing commercial oil fields, including the eight companies which have publicly accepted the principle of majority State participation in their interests, fur-further negotiations are at various stages with the companies including some at a very advanced stage. The first agreement will be announced as soon as it is concluded.