§ Mr. Hardyasked the Secretary of State for Energy what assessment he has made as to whether the current level of investment in offshore oil extraction will secure a satisfactory rate of extraction; and what is his estimate of the proportion of reserves which will be extracted in each field currently being exploited.
§ Mr. Buchanan-SmithThe rate of investment in the United Kingdom continental shelf is dependent upon a complex of considerations including world oil prices, exploration and development costs and the fiscal regime. Recent commitments to investment have been reduced because of lower oil prices, but the United Kingdom
384W(3) how much has been expended by Her Majesty's Government on research into the harnessing of wind energy during the past five years for which records are available;
(4) how much has been expended by Her Majesty's Government on research into the harnessing of hydro-electric energy during each of the past five years for which records are available.
§ Mr. David HuntThe figures for expenditure by Her Majesty's Government on research into harnessing wind, tidal, solar and hydro-electric power for 1981–82 to 1985–86 are as follows:
continues to be a very attractive oil province in which to invest and successive Governments have shown their commitment to maintaining a political and fiscal framework in which the industry can have confidence.
Information from operators on individual reservoir performance is provided on a commercially confidential basis. For the United Kingdom continental shelf as a whole recovery factors in producing oilfields are generally in the order of 25 per cent. to 55 per cent. of the oil initially in place. Improved recovery techniques may eventually increase these factors. Operators' estimates of recoverable reserves for each field under development and each producing field are shown in sections 3.3 and 4.10 respectively of the 1986 Brown Book.