Sri Lanka to sign an agreement with Total S.A. France, Europe’s third-largest explorer, next week to commence off shore exploration of natural oils in the Eastern Coast.
Accordingly, the company will begin exportations in April or May.
The Petroleum Resources Development Secretariat and Cabinet of Ministers has approved the agreement proportions.
Total will invest $10 million to acquire seismic data. Petroleum Resources Development Ministry will also launch a programme for to develop natural gas reserves in Mannar area.