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North Sea Oil And Gas

Volume 404: debated on Tuesday 29 April 2003

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To ask the Secretary of State for Scotland pursuant to her answer to the hon. Member for the Isle of Wight (Mr. Turner) of 8 April 2003, Official Report, column 120W, on North Sea oil and gas, how much has been invested by industry in each year since the PILOT initiative was introduced; and if she will make a statement on how the Government has contributed to the progress of the initiative's objectives. [109364]

I have been asked to reply.PILOT, the successor body to the Oil and Gas Industry Task Force, was formed in January 2000 and works in close partnership with industry to ensure the sustainability of the UK oil and gas industry to 2010 and beyond. The areas of interest to PILOT can be broadly grouped as Activity/Investment, Supply Chain, People and Jobs, Sustainable Development and Technology and Innovation. A number of challenging targets have been set for 2010 and a significant level of work invested by both Government and industry in reaching these targets. They are as follows:

Production of £3 million boe per day in 2010
CAPEX investment maintained at £3 billion per year to 2010
50 per cent. increase in the value of industry-related exports by 2005
£1 billion of revenue from New Business by 2010
100,000 more jobs than there would have been in 2010

Investment by industry

Operator total spend on new and existing UK oil and gas fields, as provided by UKOOA, are as follows:

Calendar year

£ billion

20008
20019
20029