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North Sea Oil (Production And Revenue)

Volume 929: debated on Monday 28 March 1977

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asked the Secretary of State for Energy what is the estimated production of North Sea oil, and what is expected to be the revenue for 1977, 1978, 1979 and 1980, at 1977 prices and taking account of any recent OPEC increase.

The 1977 Brown Book, to be published shortly, will give revised estimates of oil production. The latest estimate of Government revenue, unp to 1980, of around £5,500 million at 1976 prices, was given by my hon. Friend the Minister of State, Treasury, on 27th January.—[Vol. 924, c. 761.]—This estimate stands, and is subject to the uncertainties set out by my hon. Friend.