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Offshore Industry

Volume 464: debated on Monday 15 October 2007

To ask the Secretary of State for Business, Enterprise and Regulatory Reform whether he plans to maintain responsibility for the granting of offshore oil and gas consents under the Petroleum Act 1998; and if he will make a statement. (157244)

Yes. As the North sea continues to mature it remains a key Government objective to ensure that economic recovery of UK hydrocarbon resources is maximised. The current regulatory regime, which has been refined over the years to encourage exploration and development and attract investment, is ensuring that industry is in the best position to realise the full potential of the UK’s oil and gas reserves.