§ Mr. Mooreasked the Secretary of State for Energy if he will illustrate in detail the expenditure of £270 million in acquiring an equity stake for BNOC in the North Sea, and in similar detail the expenditure of £130 million for unspecified purposes, as outlined by BNOC's Chairman.
§ Dr. J. Dickson MabonThe £270 million referred to by the Chairman of the BNOC is the total amount paid by BNOC in respect of the acquisition of the Burmah Oil Company's interest in the Thistle and Ninian fields, and of the acquisition of NCB Exploration Ltd. and the transfer of its debts from the NCB to BNOC. Each of the three sums involved was of the order of £90 million. The remaining £130 million was devoted to existing exploration and development programmes to which BNOC was committed through the acquisitions in question. Details of these expenditures will be set out in BNOC's Annual Report and Accounts for 1976 which will be presented to Parliament.