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min question first answered	2017-12-05T13:50:27.88Z
max ddp modified	2018-01-29T17:21:02.276Z
session	2017%2F19
date tabled	2017-11-27
hansard heading	Offshore Industry: North Sea
max question first answered	2019-02-15T11:10:04.703Z

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

795462

registered interest

date

27/11/2017

answering body

Department for Business, Energy and Industrial Strategy

answering dept id

201

answering dept short name

Business, Energy and Industrial Strategy

answering dept sort name

Business, Energy and Industrial Strategy

hansard heading

Offshore Industry: North Sea

house id

legislature

25259

pref label	House of Commons

question text

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent discussions he has had with (a) Cabinet colleagues and (b) industry regulators on maximizing the economic recovery of North Sea oil and gas reserves.

tabling member constituency

Stockton North

tabling member printed

Alex Cunningham

uin

115883

answer

is ministerial correction

date of answer

05/12/2017

answer text

The UK Oil and gas industry remains a priority for the whole Government.In the recent Autumn Budget the Government announced the introduction of a Transferable Tax History mechanism for UK Continental Shelf oil and gas producers for deals that complete on or after 1 November 2018. This initiative is a world first and should encourage new entrants and unlock fresh investment for a basin that still holds up to 20 billion barrels of oil. In addition, the Chancellor during his recent visit to Aberdeen announced additional funding of £5 million to help stimulate exploration activity in the UK Continental Shelf. This is on top of the £2.3 billion of Government support for the industry over recent years through initiatives likes the £250m Aberdeen City Deal Package and reducing tax that the industry pays in recognition of the challenging conditions which face the sector and to encourage investment.Ministers have regular discussions with the industry regulators, including the Oil and Gas Authority who is charged with maximising economic recovery of oil and gas reserves in the UK Continental Shelf.

answering member constituency

Watford

answering member printed

Richard Harrington

question first answered

05/12/2017 15:06:21

answering member

4068

label	Biography information for Lord Harrington of Watford

tabling member

4122

label	Biography information for Alex Cunningham