Written by the leading expert in UK petroleum economics, this
study provides a new, unique, in-depth analysis of the development
of British policies towards the North Sea oil and gas industry from
the early 1960s to the early 1980s.
Drawing on full access to the UK Government s relevant archives,
Alex Kemp examines the thinking behind the initial legislation in
1964, the early licensing arrangements and the events leading up to
the boundary delimitation agreements with Norway and other adjacent
North Sea countries. He explains the debate in the later 1960s
about the appropriate role of the state in the exploitation of the
gas and oil resources, the prolonged negotiations resulting in the
early long-term gas contracts, and the continuing debate on the
role of the state following the large oil discoveries in the first
half of the 1970s resulting in the formation of BNOC (British
National Oil Corporation). The debate leading up to the
introduction of, and subsequent increase in, the Petroleum Revenue
Tax is fully explained as is the introduction of Supplementary
Petroleum Duty. The author also outlines the debates around
interventionist depletion policies and on how the oil revenues
should best be utilised.
The Official History of North Sea Oil and Gas will be of much
interest to students of North Sea oil and gas, energy economics,
business history, and British politics, as well as to petroleum
professionals and policymakers."
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