Oil and gas exploration in Mannar Basin mapped

Source:-www.ft.lk

Energy Minister Udaya Gammampila in a gazette notification has published a map of blocks for joint exploration for oil and gas in the Mannar Basin. 

Titled ‘Hydrocarbon exploration block map of Sri Lanka,’ the map outlines the blocks for exploration licences, development licences and joint studies. The publication covers all areas identified to contain oil and gas deposits in Sri Lankan waters by the Petroleum Resources Development Secretariat, for exploration.  

The map contains 873 blocks of 15×15 km each in the Mannar Basin, and will enable investors to select preferred plots for exploration without difficulty. The Energy Ministry has endeavoured to make the map and exploration process engaging to investors in the Mannar, Kaveri and Lanka basins. 

The Ministry noted that several foreign investors had expressed interest in the mapped blocks. The newly-published map and process is aimed at attracting the top 20 oil and gas companies in the world to invest in the sector.

The project has potential to deliver over two billion barrels of oil and nine trillion cubic feet of natural gas, it is estimated.