French company commences seismic survey to study oil exploration
French company commences seismic survey to study oil exploration in the seas of Sri Lanka’s Eastern Province

French company commences seismic survey to study oil exploration in the seas of Sri Lanka’s Eastern Province

Eastern Echo DMCC, which is a unit of oil services group Shlumberger and Total of France, has reportedly launched a seismic survey in the seas off Sri Lanka’s Easters coast to study the possibilities of oil exploration in the area.
“If the results of the 2-D (two dimensional survey is positive, a 3-D survey will start,” Sri Lanka’s Petroleum Minister Arjuna Ranatunga has been quoted as saying in the local media.
According to reports, the research vessel BGP Pioneer will carry out a survey spanning 5000 line kilometers, which will be the largest done so far in Sri Lanka in the exploration blocks designated JS-5 and JS-6.
Director General of Sri Lanka’s Petroleum Development Secretariat, Vajira Dassanayake has reportedly said the vessel will spend around 40 to 50 days conducting the survey.
The data is to be processed in Malaysia at a Shlumberger technical centre which may take about five months.
Sri Lanka PRDS and Total geoscientists will then analyze the data, the local media has reported. Reports further stated that the project, mostly funded by Total, is expected to cost around US$ 9 million.
Accordingly, the data collected will be available to be sold to prospective investors who may want to drill for oil.

OSL take:

The survey once completed would provide necessary information for foreign businesses interested in investing in oil exploration in the seas off Sri Lanka. It would be a lucrative investment since Sri Lanka is well positioned in the Indian Ocean to enable easy transportation of oil once excavated.

Share this:

Article Code : VBS/AT/04092018/Z_1

    For More Info and Help






    Leave a Comment