Oil and gas exploration in Sri Lanka’s Mannar Basin mapped
Sri Lanka’s Energy Minister Udaya Gammampila has issued a gazette notification with a map of blocks for joint exploration for oil and gas in the Mannar Basin, according to local media reports.
Titled ‘Hydrocarbon exploration block map of Sri Lanka,’ the map outlines the blocks for exploration licenses, development licenses and joint studies. The publication also covers all areas identified to contain oil and gas deposits in Sri Lankan waters by the Petroleum Resources Development Secretariat, for exploration, the Daily FT has reported.
According to news reports, the map contains 873 blocks of 15×15 km each in the Mannar Basin that will enable investors to select preferred plots for exploration without difficulty.
The Energy Ministry has made the map and exploration process engaging to investors in the Mannar, Kaveri and Lanka basins.
The Ministry has further noted that several foreign investors had expressed interest in the mapped blocks.
The newly-published map and process is aimed at attracting the top 20 oil and gas companies in the world to invest in the sector.
OSL take:
The government of Sri Lanka is focused on launching the country’s oil and gas exploration project that has been in the pipeline for several years. However, given Sri Lanka’s economic expansion and ongoing development programme, the oil and gas exploration project will further boost the country’s investment portfolio. Sri Lanka is fast becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. Foreign businesses/investors could therefore confidently explore business/investment opportunities in Sri Lanka, especially in the oil and gas exploration programme.
| Article Code : | VBS/AT/12082021/Z_1 |