§ Mr. Douglasasked the Secretary of State for Trade and Industry what is his most recent estimate of the reserves of oil and gas available from the United Kingdom sector of the Continental Shelf, of recoverable reserves, and his estimate of these as a percentage of known world reserves.
§ Mr. EmeryRecoverable gas reserves are currently put at about 35 TCF representing about three-quarters of the gas in place; this compares with known world gas reserves of 1,100 TCF (TCF = 1012 cu. ft.). Known world oil reserves at the end of 1971 were about 70,000 million tons. Estimating oil and gas reserves is a continuing process; information about the oil discoveries requires further evaluation before a statement can be made about recoverable oil reserves on the United Kingdom sector of the Continental Shelf.