§ Mr. Woofasked the Secretary of State for Energy what plans he has to build up the extraction of oil production from the Continental Shelf; and what is his estimate of benefit in terms of security of supply and foreign exchange gains.
§ Mr. StrangThe Government's immediate aim is to build up oil production from the United Kingdom Continental Shelf to a high level as soon as possible; decisions on longer-term production levels will be taken in the light of circumstances nearer the time. I cannot give a figure for the benefit to the United Kingdom of North Sea oil in terms of security of supply, but the balance of payments advantages in 1980 from oil alone could be about £3,000 million to £4,000 million.