We are seeking an investor for Cauvery & Mannar Basins oil and natural gas exploration projects in Sri Lanka. More than that it is possible to do a seismic survey for Ceylon Basin is located to south & south-west of Sri Lanka. Also it there is a good opportunity to invest in oil refinery modernization project in Sri Lanka.
Sri Lanka government announced it would launch a second round of licensing for oil and gas exploration in March. Thirteen blocks in the Cauvery and Mannar basins have been set aside for the licensing round, along with six “joint study blocks” in the unexplored, deepwater areas to the east and south of Sri Lanka.
The licensing round will be launched in Houston on March 7, by the Sri Lankan government Sri Lanka government will present a technical overview of the oil and gas blocks up for exploration. Seismic data of the Mannar Basin has suggested that it contains a significant amount of oil and gas. Reported the data shows more than 1 billion barrels of oil under the sea in the Cauvery Basin.
The country currently does not produce oil, and the future exploration would help Sri Lanka reduce its dependence on imported fuel. The Sri Lankan government has tried to boost its oil and gas exploration activities since 2009. It currently spends about $5.04 billion on fuel imports every year. In the event you require further information, please don’t hesitate to contact us for more details.
Sri Lanka ties up with French giant Total to explore for oil in East
