Sri Lanka’s parliamentary committee issues instructions to prepare road map for gas exploration
Sri Lanka’s parliamentary Committee on Public Accounts (COPA) has reportedly issued directives to officials of the country’s Power and Energy Ministry to prepare a detailed road map to carry out exploration of gas and crude oil resources in the country.
COPA has issued these directives during a meeting held in parliament under the chairmanship of MP Prof. Tissa Vitharana.
The Ministry officials meanwhile have made a presentation on the Liquefied Natural Gas (LNG) Mining Projects planned in Sri Lanka and their current status and pointed out that there are various obstacles to these mining.
Ministry officials have also informed that the local officials were capable of carrying out the required work without foreign expertise.
Accordingly, COPA had instructed the Ministry officials to complete a road map for the country’s gas exploration programme and the excavations as soon as possible as it is in the interest of the country.
OSL take:
Sri Lanka’s oil and gas exploration programme is expected to be one of the largest business/investment opportunities in the country. Many foreign countries as well as businesses have already expressed interest in investing in the programme while some companies have already carried out the initial studies. Sri Lanka’s geographical positioning in the Indian Ocean as well as the overall economy expansion have both helped the country position itself as an emerging business destination in the region. It is in such a backdrop that a Parliamentary committee has called on the authorities to expedite the finalizing of the country’s gas exploration programme. Given the business potential in the industry, interested foreign businesses/investors could explore the opportunities in Sri Lanka’s oil and gas exploration programme and commence the preliminary work related to starting the business in Sri Lanka.
| Article Code : | VBS/AT/11072022/X_3 |