§ Mr. RedmondTo ask the Secretary of State for Energy at what date he expects the North sea oil industry to be back to full production; what efforts he is taking to overcome the loss of output due to recent accidents; what measures he is taking to encourage the economic replacement of this lost production; what has been the cost to date to the Exchequer; what is the estimated total cost; and if he will make a statement.
§ Mr. Peter MorrisonThe Government have created the conditions which encourage the exploration and development of our North sea. Despite low oil prices, commitment to new investment is at its highest level for more than four years, and exploration activity is currently at a record level. Up to the end of January production of some 9.5 million tonnes, worth some £670 million at today's prices, has been deferred as a result of the recent accidents. It is too early to say when all this production will be resumed and hence to estimate the final cost.