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Wednesday, 11 April 2018 - 16:01
Sri Lanka to revive petroleum exploration
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Cabinet has granted approval to enter into agreements with selected companies to explore petroleum in Eastern coastal area and shallow sea areas.
 
Steps will also be taken to commence exploration of petroleum in land areas near the coastal belt.
 
Co-Cabinet spokesperson, Rajitha Senaratne disclosed these details during the weekly Cabinet Media briefing in Colombo today (Apr. 11).
 
He also revealed that Sri Lanka is planning to call fresh bids for an oil exploration block off Mannar in May 2018.
 
Cairn India, which undertook exploration activities off Mannar a few years ago found traces of natural gas in two deep-sea wells.
 
But they left the exploration work in late 2015.
 
However, Sri Lanka kept Cairn’s seismic study worth about US $ 300 million.
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