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Oil Reserves

Volume 995: debated on Tuesday 5 February 1980

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asked the Secretary of State for Energy what is his estimate of the present amount of usable proven oil reserves for which oil production equipment is either installed or planned in billions of barrels.

The latest information is given in table 1 of my report to Parliament in June 1980 on "Development of the oil and gas resources of the United Kingdom"—the Brown Book. Estimated proven oil reserves on the UKCS refuted to fields in production or under development are 1,0175 million tones—just over 8 billion barrels.