§ 15. Mr. Jim Lesterasked the Secretary of State for Energy if he will confirm that agreements on participation are to be fully voluntary.
§ Mr. BennOur declared policy is to secure participation by voluntary negotiations, and we are confident that this aim will be achieved.
§ 24. Mr. Ioan Evansasked the Secretary of State for Energy if he will make a further statement on State participation in the ownership and control of North Sea oil.
§ Mr. John SmithThe conclusion of participation agreements with Gulf and Conoco was announced to the House on 26th February, and with Tricentrol on 16th March. The Government's agreement with Burmah concerning the purchase of its North Sea assets was announced to the House on 10th March. Negotiations with other companies are continuing.
§ Mr. Tim Rentonasked the Secretary of State for Energy whether the conclusion of participation agreements will increase 2W the British Government's revenue from known fields in the North Sea.
§ Mr. John SmithThe Government have already made it clear that participation in commercial fields under existing licences is not designed to increase Government revenue.