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Sri Lanka, India renew hydrocarbon sector co-operation

EconomyNext – India and Sri Lanka have resumed a bilateral co-operation initiative in the oil and gas sector during the visit to New Delhi by Sri Lankan President Maithripala Sirisena.

Sri Lankan Minister of Power Patali Champika Ranawaka held talks with Indian Minister of State for Petroleum & Natural Gas Dharmendra Pradhan, India’s Ministry of Petroleum & Natural Gas said in a statement.

"The two Ministers reviewed the existing cooperation between the two countries on hydrocarbon sector," it said.

"It was agreed that all avenues must be explored to enhance the relationship in this sector."

The talks came after a long delay in Sri Lanka’s hydrocarbon exploration effort following the discovery of natural gas in the Mannar Basin by Cairn India.

Cairn has announced it was ready to commercialise the find but talks with the Sri Lankan government on pricing and production had stalled.

Neither India nor China have accepted Sri Lanka’s offer of exploration blocks in the Mannar Basin.

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