§ Mr. Foulkesasked the Prime Minister what representations Her Majesty's Government have received with regard to the granting of a licence to Firstland Oil plc for drilling rights on the Falklands.
§ The Prime MinisterNone.
§ Mr. Foulkesasked the Prime Minister whether any conditions regarding the use of the use of profits arising as a result of onshore oil exploration in the Falklands were imposed in the licence granted to Firstland Oil plc.
§ The Prime MinisterIn accordance with the Falkland Islands Mining (Mineral Oil) Regulations 1964, the licence provides for royalties to be paid to the Falkland Islands Government on any oil or gas extracted. It also provides that an annual rent will be paid to the Falkland Islands Government.