Cabinet Spokesperson Dr Nalinda Jayatissa said that yesterday (25), the petroleum exploration licence awarding round, was officially launched at the Ceylon Petroleum Corporation, offering four exploration blocks in the Mannar Basin – nearly 34,000 square kilometres - to international energy companies.

According to geological data, Sri Lanka potentially has oil and gas resources including petroleum, natural gas and liquid hydrocarbons. However, assessment requires modern techniques and advanced technologies. Appraisal and extraction follows thereafter.

“A certain extent of information exists regarding oil in the said Basin and several areas in the Indian Ocean Zone territory belonging to Sri Lanka. Let's see,” he explained.