§ Mr. Campbellasked the Secretary of State for Energy what recent progress has been made in participation negotiations with companies involved in North Sea oil development.
§ Dr. J. Dickson MabonI have today signed a participation agreement, in final form, with BNOC and companies in the Buchan Group—Transworld Petroleum (UK) Ltd, CCP North Sea Associates Ltd, Gas & Oil Acreage Ltd, St Joe Petroleum (UK) Corporation, CanDel Petroleum (UK) Ltd, City Petroleum Company, Chaterhall Oil Ltd, Transworld Petroleum Corporation, CanDel Oil Ltd and Lochiel Exploration (UK) Ltd. This agreement implements the heads of agreement signed on 9th September 1977. An extended summary of the agreement will be placed in the Library of the House as soon as the agreement becomes effective for all the parties.