§ Mr. Skeetasked the Secretary of State for Energy, since the passing of the Petroleum and Submarine Pipe-Lines Act 1975, how many occasions applications have been made by the licensees for an assignment of their interest or part of it to a third party pursuant to Model Clause 38 (seaward areas); in how many cases a carried interest has been negotiated in favour of the British National Oil Corporation, and in how many cases the British National Oil Corporation has applied for and secured an equity interest.
§ Dr. MabonSixty five applications have been received. The British National Oil Corporation was a prospective assignee in 15 of these, eight of which were for participation purposes only. Details of the transactions are commercially confidential.