Sri Lanka has officially launched this year’s petroleum exploration licensing round for the Mannar Basin, with the launch ceremony held today (25) at the headquarters of the Ceylon Petroleum Corporation.
The event, organized by the Petroleum Development Authority of Sri Lanka, was held under the patronage of Minister of Energy Anura Karunathilaka and Labour Minister and Deputy Minister of Finance and Planning Dr. Anil Jayantha.
Under the new licensing round, four exploration blocks covering nearly 34,000 square kilometres in the Mannar Basin are expected to be offered to international energy companies for exploration activities.
The Ministry said previous exploration efforts had confirmed the presence of petroleum and natural gas in the Mannar Basin, following the discovery of natural gas and liquid hydrocarbons.
Petroleum Development Authority Director General Neil de Silva said the relatively large unexplored area of the basin presents an opportunity for international companies to conduct further exploration using modern geological survey techniques and advanced technologies.
He said companies would also be granted access to geological data on the Mannar Basin currently held by the Authority.
According to de Silva, existing data indicates that the Mannar Basin could potentially contain around 2 billion barrels of petroleum and 9 trillion cubic feet of natural gas, which may be recoverable through drilling.
