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Wednesday, 1 December 1976
Page: 3086

Mr Hurford asked the Treasurer, upon notice:

(1)   Which operating companies and holding companies are involved in exploration and development of oil and natural gas on the North West Shelf.

(2)   What proportion of the equity and of the voting strength on the boards of each of these companies is held by Australians.

(3)   Do the ownership and control arrangements of these companies meet the Government's foreign investment guidelines.

Mr Lynch - The answer to the honourable member's question is as follows:

(1)   I am advised that the registered holders of off-shore petroleum exploration permits on the North West Shelf, in which major discoveries of natural gas have been made and concerning which development proposals are under consideration, are as follows:

BOCAL Pty Ltd,

Woodside Oil NL.,

Mid-Eastern Oil N.L.,

North West Shelf Development Pty Ltd,

BP Petroleum Development Australia Pty Ltd,

California Asiatic Oil Company.

(2)   Such information as may be supplied by companies to the Government concerning, among other things, their operations, equity structure and board voting arrangements, is provided on a strictly confidential basis. It would not therefore be appropriate for me to provide details of the information sought by the honourable member.

(3)   Proposals by foreign interests to develop the oil and natural gas fields in the North West Shelf are subject to consideration under the Government's foreign investment policy as outlined by me on 1 April of this year.

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