§ Mr. Ernie Rossasked the Secretary of State for Energy how much capital has been committed towards the development of offshore oil and gas in each year since 1964.
§ Mr. GrayThe figures for total gross domestic fixed capital formation in the United Kingdom oil and gas production industry for 1964 to 1967 and 1968 to 1978 are published in table 65 of the 1975 edition and table 10.8 of the 1979 edition respectively of National Income and Expenditure (Her Majesty's Stationery Office).
However, for the convenience of the hon. Member I give these in the following table together with a provisional estimate for 1979.
£ million 1964 1 1965 12 1966 25 1967 35 1968 35 1969 35 1970 49 1971 60 1972 109 1973 203 1974 604 1975 1,348 1976 2,083 1977 2,150 1978 2,221 1979 provisional 2,050
§ Mr. Ernie Rossasked the Secretary of State for Energy what percentage of private investment committed to developing United Kingdom offshore oil and gas reserves in each year since 1964 has been domestic capital and what percentage has been foreign capital.
§ Mr. GrayThe foreign companies' share of private sector capital expenditure on the development of United Kingdom offshore oil and gas reserves annually since 1970, the first year for which information is readily available, is estimated to have been as follows:
1970 84 per cent 1971 86 per cent 1972 48 per cent 1973 41 per cent 1974 66 per cent 1975 72 per cent 1976 76 per cent 1977 74 per cent 1978 75 per cent 1979 75 per cent