Sri Lankan government invites international oil and gas companies for exploration in the Mannar and Cauvery basins
The government of Sri Lanka is reportedly looking at inviting international oil and gas multinational companies to explore for hydrocarbon deposits in the country’s north-western Mannar and northern Cauvery basins.
According to the local media, the Cabinet of Ministers has this week approved a proposal by Sri Lanka’s Minister of Petroleum Resources Development, Arjuna Ranatunga to call for bids from international petroleum companies.
Accordingly, bids for offshore exploration, development and production activities in the two basins are to be released since initial studies have revealed potential for oil and natural gas.
OSL take:
The invitation extended by the Sri Lankan government for international companies to engage in oil exploration in the Mannar and Cauvery basins is an investment opportunity not to be missed by foreign companies.
| Article Code : | VBS/AT/06082018/Z_4 |