Britain is not considering any restriction of its present oil production UK Energy Minister Alick Buchanan-Smith said. Speaking to reporters at the Offshore Technology Conference Buchanan-Smith said No weve made that absolutely clear we see no reason for changing (the production level). Earlier today Buchanan-Smith gave the go-ahead to Mobil Corp for two new North Sea developments -- the Ness oil field and Beryl B subsea water injection project -- totalling 96 mln dlrs (60 mln British pounds). Unlike Norway which has restricted its production of North Sea oil by 80000 barrels a day in an effort to stabilize world oil prices Britain has consistently refused to intervene in the market place. Buchanan-Smith also said there may be a demand-supply gap in the 1990s for natural gas in Britain but added that it would probably be less than had been previously estimated. Norway is a major producer of natural gas and this morning Norways Energy Minister Arne Oien said he was hoping Britain will take more Norwegian gas in the 1990s. Buchanan-Smith also said he expects to announce the results of the 10th licensing round of North Sea tracts next month. He said there had been 75 applications for 127 tracts by 84 companies and added that he expects about 50 blocks will be licensed. He said the results would be in line with rounds prior to but not equal to the ninth two years ago which was one of the most successful ever.
UK NOT CONSIDERING RESTRICTING OIL OUTPUT