Sri Lanka to explore oil in the North
Sri Lanka to explore oil in the North
Thursday, December 20, 2007, 18:31 GMT, ColomboPage News Desk, Sri Lanka.
Dec 20, Colombo: Sri Lanka government plans to explore for oil in the sea off the Jaffna peninsula, Media Minister Anura Priyadarshana Yapa revealed today.
The Minister said the government has approved the petroleum ministry to begin exploration in the Sri Lankan side of Cauvery Basin which lies between India and Sri
Lanka to the north of Jaffna Peninsula. Oil companies will be invited to explore both on land and in sea off the shore in the new areas.
Studies conducted by an international company have indicated possible oil and gas resources in the seabed off the northern and western coasts of Sri Lanka. The
government has identified eight blocks for oil exploration in the Mannar Basin. China and India's state oil companies have already been promised two of the Mannar
basin's five blocks.
Dec 20, Colombo: Sri Lanka government plans to explore for oil in the sea off the Jaffna peninsula, Media Minister Anura Priyadarshana Yapa revealed today.
The Minister said the government has approved the petroleum ministry to begin exploration in the Sri Lankan side of Cauvery Basin which lies between India and Sri
Lanka to the north of Jaffna Peninsula. Oil companies will be invited to explore both on land and in sea off the shore in the new areas.
Studies conducted by an international company have indicated possible oil and gas resources in the seabed off the northern and western coasts of Sri Lanka. The
government has identified eight blocks for oil exploration in the Mannar Basin. China and India's state oil companies have already been promised two of the Mannar
basin's five blocks.
India to play key role in oil quest
India will be a key player in the Sri Lankan oil and gas
exploration in the Cauvery Bay of the Gulf of Mannar which is
set to begin in March next year.
As many as 18 oil and 11 gas reserves have been identified on
the Indian side of Cauvery Bay and exploration will begin in
March next year,Infomation and Media Minister Anura
Priyadharshana Yapa said.
Experts estimate the sites may contain millions of barrels of
crude oil for which both India and China are competing for
overseas oil and gas reserves to meet soaring energy demand.
The international arm of the Oil and Natural Gas Corporation,
OVL Ltd, paid one million dollars to Norwegian seismic survey
group - TGS NOPEC- a few weeks ago for acquiring data in
the Mannar Offshore Basin in Sri Lanka, according to Sri
Lankan petroleum ministry officials.
The Mannar Basin, located between southwestern Sri Lanka
and Indian coastline in water depths ranging from 50 metres to
more than 3,000 metres, lies to the south of Cauvery Basin in
Indian waters - known for both oil and gas production.
Sri Lanka currently, relies on imports to meet all of its crude oil
demand of around 42,000 barrels a day and fifty per cent of its
products demand of about 70,000 barrels a day.
Sri Lanka had offered to give OVL 5,000 to 6,000 sq km of
exploration area in the Mannar Offshore Basin on a nomination
basis.
This is in lieu of assistance in training their professionals and
assisting them in demarcation of the exploration and production
(E&P) blocks. One block was also offered to China on
nomination basis.
Sri Lanka has eight exploration blocks in the Mannar basin,
three of which are up for tender and one each already offered
to China and India. The decision on the rest of the blocks will
be taken later.
exploration in the Cauvery Bay of the Gulf of Mannar which is
set to begin in March next year.
As many as 18 oil and 11 gas reserves have been identified on
the Indian side of Cauvery Bay and exploration will begin in
March next year,Infomation and Media Minister Anura
Priyadharshana Yapa said.
Experts estimate the sites may contain millions of barrels of
crude oil for which both India and China are competing for
overseas oil and gas reserves to meet soaring energy demand.
The international arm of the Oil and Natural Gas Corporation,
OVL Ltd, paid one million dollars to Norwegian seismic survey
group - TGS NOPEC- a few weeks ago for acquiring data in
the Mannar Offshore Basin in Sri Lanka, according to Sri
Lankan petroleum ministry officials.
The Mannar Basin, located between southwestern Sri Lanka
and Indian coastline in water depths ranging from 50 metres to
more than 3,000 metres, lies to the south of Cauvery Basin in
Indian waters - known for both oil and gas production.
Sri Lanka currently, relies on imports to meet all of its crude oil
demand of around 42,000 barrels a day and fifty per cent of its
products demand of about 70,000 barrels a day.
Sri Lanka had offered to give OVL 5,000 to 6,000 sq km of
exploration area in the Mannar Offshore Basin on a nomination
basis.
This is in lieu of assistance in training their professionals and
assisting them in demarcation of the exploration and production
(E&P) blocks. One block was also offered to China on
nomination basis.
Sri Lanka has eight exploration blocks in the Mannar basin,
three of which are up for tender and one each already offered
to China and India. The decision on the rest of the blocks will
be taken later.
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