HC Deb 10 February 1993 vol 218 cc670-1W
Mr. Salmond

To ask the President of the Board of Trade if he will give details of actual capital expenditure on current petroleum and natural gas development in the United Kingdom continental shelf in each of the last 15 years; if he will forecast the level of future capital expenditure in each of the next five years; and if he will make a statement.

Mr. Eggar

Details of actual capital expenditure on petroleum and natural gas development in the United Kingdom continental shelf are given in my Department's report to Parliament, the "Development of the Oil and Gas Resources of the United Kingdom", the Brown Book, copies of which are available in the Library. A survey conducted by my Department during 1992 shows company intentions to invest some £4.7 billion in each year from 1993 to 1995, £4.1 billion in 1996, and £3.2 billion in 1997. The decline shown in the intended expenditures over the later years of the survey period is usual in these surveys, since companies cover only projects which are sufficiently advanced to enable reasonable estimates of expenditure to be made. However, if these intentions are realised real annual expenditure will remain higher than in any of the years between 1987 to 1989.

Mr. Salmond

To ask the President of the Board of Trade if he will forecast the number of orders for platforms for United Kingdom oil and gas production development in each of the next five years and the estimated level of capital expenditure this represents; and if he will make a statement.

Mr. Eggar

A survey conducted by my Department during 1992 shows company intentions to order some 44 platforms over the next five years, on which intended expenditure is some £8.3 billion for the structures, decks, modules and equipment alone. The survey does not collect the number of orders in each year, and only includes projects where company plans are sufficiently advanced to enable reasonable estimates of expenditure to be made.