Sri Lanka to call for oil exploration bids in Mannar, Cauvery basins

ECONOMYNEXT – Sri Lanka’s government is to invite international oil and gas multinational companies to explore for hydrocarbon deposits in the north-western Mannar and northern Cauvery basins, a spokesman said.

The Cabinet of Ministers this week approved a proposal by Arjuna Ranatunga, Minister of Petroleum Resources Development to call for bids from international petroleum companies.

The bids are for offshore exploration, development and production activities in the two basins where initial studies have revealed potential for oil and natural gas.

(COLOMBO, 01 August, 2018)

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