§ Mr. Skeetasked the Chancellor of the Exchequer how many of the significant hydrocarbon discoveries in appendix IV of the 1982 Brown Book, apart from the 26 fields either on production or under development and excluding gas fields, are capable of being produced economically under the current tax regime.
§ Mr. WakehamIt is too early to say: in many cases, further appraisal and detailed project design will be necessary before field economics can be properly assessed by the companies concerned. In reaching the Budget decisions we did, however, consider the likely profitability of a wide range of typical future developments, and concluded that attractive prospects remain available under the current tax regime.