§ Mr. Gordon Wilsonasked the Secretary of State for Energy what changes in depletion strategy are likely to flow from the extended acreages on offer under the seventh round.
§ Mr. GrayNew exploration under seventh round licences and in existing acreage will increasingly determine the levels of oil production achievable in the 1990s when output from existing fields will be in sharp decline. I am discussing production prospects with the industry and expect to make a statement on depletion policy to the House shortly.