§ Mr. Fernyhoughasked the Secretary of State for Energy what improved terms and benefits he has achieved as a result of his renegotiating the terms of the agreement made with the oil companies operating in the North Sea by the previous Government.
§ Dr. MabonAs a result of negotiations with my Department and BNOC, 44 companies have now entered into agreements providing for majority state participation in fields being developed under first to fourth round licences. Through these agreements we have obtained access, usually through options for BNOC of up to 51 per cent. of production, to secure supplies of petroleum produced from the licensed areas. BNOC has also become a member, with an effective voice through a vote, of the relevant operating committees that manage the development and 185W production of petroleum from the licensed areas. BNOC is thus fully involved in the running of virtually all the producing fields. This will lead to the further benefit of informed advice from BNOC to me on matters relating to development of our petroleum resources.