ona OF LABOUR'S NEW SCIENCE BASED INDUSTRIES? from Richard Fletchor
The Fobruary issuc of Petroleum Press Service has a survey of tho exploration of oil and gas Potentialities of the North Sea outside of territorial wators. Two groups now seem to bo intent on starting test drillings in the noar future. The first wells will be drilled off Western Germany, though not far from the Groningen fiold in tho Netherlands. The two groups are, respectively, Anoseas (Caltex) and the consortium formed last year for operations based on ‘lestern Gormany, with which Mobil, Shell, sso, Indiana Standard and several German companies are associated. Actual drilling will probably start in April. The consortium intonds to spend nearly DM 100m, (£9 million) on drilling oporations during 1964 and 1965.
The articlo goos into detail as to the logal position of the companies carrying out the exploration and notos how the West German Government is trying to control the exploration. The article concludes: "The Geneva Convention merely provides a goneral framework of law to be filled in by appropriate national legislative measures..." Quite clearly, the Labour Party must be pledged to place this exploration under public ownership, instead of merely helping to create a new field of big business (probably state-backed anyway) investment.