§ Mr. Macfarlaneasked the Secretary of State for Energy if he will list the 50 oil companies which he is approaching urging their agreement to State participation in existing or future commercial oil fields.
§ Mr. BennLetters have been sent to those applicants for fifth round licences who hold interests under existing licences and whose attitude to majority State participation in commercial discoveries is not adequately known. TheGazette notice inviting applications indicated that one factor in examining applications would be the degree to which the applicant had demonstrated his agreement to the conceding to the State of a majority share in any discoveries made under 49W existing licences. The identity of fifth round applicants is commercially confidential.
§ Mr. Sedgemoreasked the Secretary of State for Energy (1) when he expects to conclude a participation agreement with Esso on North Sea oil; and if he will make a statement on outstanding issues;
(2) when he expects to conclude a participation agreement with Shell on North Sea oil; and if he will make a statement on outstanding issues.
§ Mr. BennI cannot predict a date. Discussions continue with both companies with a view to reaching an agreement which will meet the requirements of Government policy.
§ Mr. Sedgemoreasked the Secretary of State for Energy if he has yet finalised a participation agreement with British Petroleum on North Sea oil; and, if so, if he will publish the terms of this agreement.
§ Dr. J. Dickson MabonNegotiations on the detailed agreements which will implement the memorandum of principles agreed with BP on 28th June 1976 are still proceeding.
§ Mr. Sedgemoreasked the Secretary of State for Energy what funds he intends to release, if any, for the BNOC to purchase equity in oil companies for each of the years 1976 to 1980.
§ Dr. J. Dickson MabonI would ask my hon. Friend to await the publication of the forthcoming public expenditure White Paper.