Govt. to advertise Mannar basin plots for oil exploration

The government plans to advertise identified plots in the Mannar basin for further studies on oil exploration based on the research concluded in the area last year.

Power and Energy Minister Kanchana Wijesekera announced that the Petroleum Resources Development Secretariat (PRDS) would soon advertise the identified plots in Mannar basin for exploration activities.

According to PRDS, there were estimated 5 billion barrels of fuel and about 5 trillion cubic feet of natural gas in the Mannar basin, which is sufficient to meet the country’s fuel requirement for about 60 years, and which could be utilised to increase the country’s power supply to 1130 kilowatts. 

The natural gas production alone is estimated to bring approximately US$ 200 billion to the country in various sectors within a span of 25 years.

Although, there’s a possibility of finding economically viable deposits, Wijesekera noted that no assurance could be given in that regard.

Despite calling for proposals multiple times, PRDS is yet to find a reliable investor for the identified petroleum plots in the Mannar basin.