HC Deb 29 July 1983 vol 46 cc749-50W
Mr. Skeet

asked the Secretary of State for Energy what volume of condensate has been discovered on the United Kingdom continental shelf; and what percentage of the 16 discoveries is economically recoverable under the current tax regime.

Mr. Buchanan-Smith

Of the sixteen hydrocarbon discoveries listed in the 1983 Brown Book as containing condensate, most are at an early stage of appraisal, and it is therefore possible to give only an approximate figure for the recoverable condensate reserves. This is currently assessed to be not less than about 600 million barrels.

It is for the licensees to decide whether any particular discovery is economic to develop.