§ Mr. Sproatasked the Secretary of State for Trade and Industry if he will set up an inquiry into the effect on the market for goods and services resulting from the North Sea oil discoveries, and to suggest ways in which British industry may secure the maximum possible benefits from such developments.
§ Mr. ChatawayThe Department of Trade and Industry and the Central Policy Review Staff jointly have recently appointed International Management and Engineering Group of Britain Ltd. to study the expanding market for goods and services arising from the North Sea oil discoveries. The study will be concerned with the equipment, materials, components, contracting and other services required for the exploration, development and production of hydrocarbons on the Continental Shelf up to 1985 and beyond and will assess the potential scope for British industry to participate in this market. The desirability of encouraging the manufacture of the equipment, together with the setting up of appropriate contracting facilities, in Scotland and the other assisted areas will be borne especially in mind. The study should be completed by the autumn.