ECONOMYNEXT – There are signs that hydrocarbon resources may be present in terrestrial Jaffna peninsula and the shallow waters of the Cauvery basin which may be easier to exploit, Petroleum Minister Udaya Gammanpila said.
Sri Lanka had previously done surveys only in the deeper waters like the Mannar basin around Sri Lanka but the 300 metre depth Cauvery basin had not been surveyed, Minister said.
But BellGeospace was now conducting aerial surveys in shallows seas in the North.
“We have now started surveys of the Cauvery basin,” Minister Gammnapila told parliament. “Not only the seabed but there are emerging signs that there may be oil on the Jaffna peninsula.
“In three months when we analyze the data that has been collected, we can tell with more certainty whether there is oil on land.”
Sri Lanka has already found hydrocarbon in exploration well in the Mannar basin but the well was around 4,700 metres deep.
Cairn Lanka, a unit of Cairn India which dug the wells abandoned them saying it was not commercial.
But natural gas prices have since gone up. (Colombo/Nov30/2021)