Sri Lanka has launched this year’s petroleum exploration licensing round for the Mannar Basin, with the official launch taking place on August 25 at the Ceylon Petroleum Corporation headquarters.
Organised by the Petroleum Development Authority of Sri Lanka, the event was held under the patronage of Energy Minister Anura Karunathilaka and Labour Minister and Deputy Minister of Finance and Planning Dr. Anil Jayantha.
Under the latest licensing round, four exploration blocks covering approximately 34,000 square kilometres in the Mannar Basin will be offered to international energy companies for further exploration.
The Ministry said previous exploration activities in the basin had confirmed the presence of petroleum and natural gas, including discoveries of natural gas and liquid hydrocarbons.
Petroleum Development Authority Director General Neil de Silva said the basin’s largely unexplored areas present significant opportunities for international investors to undertake further exploration using modern geological surveying methods and advanced technologies.
He added that prospective companies would also have access to geological information on the Mannar Basin held by the Authority.
According to de Silva, existing geological data suggests that the Mannar Basin could hold around 2 billion barrels of petroleum and 9 trillion cubic feet of natural gas, with the potential for these resources to be commercially recovered through drilling.
