Sri Lanka to go for more petroleum seismic studies

COLOMBO (EconomyNext) – Sri Lanka is to go for more offshore seismic studies for oil and gas deposits in the Mannar Basin, having got interest from foreign companies, a government official said.

Saliya Wickramasuriya, Director General of the Petroleum Resources Development Secretariat said the government was keen to make up for a lack of data on the island’s offshore petroleum potential.

"We got six proposals from petroleum sector service companies interested in acquiring seismic data on a speculative basis," he told a forum on energy organized by Ceylon Chamber of Commerce Monday.
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"The proposals have been forward to the Cabinet of ministers to evaluate and take action,"

Wickramasuriya was responding to a question on lack of data being a deterrent to government efforts to attract multinational oil and gas companies for exploration and production.

The sole firm which did recent exploration, Cairn India, had decided to withdraw from further exploration efforts and not commercialise two gas deposits found in the Mannar Basin.

The move follows a slump in oil and gas prices which make it unattractive to drill in deep-water deposits.

 

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