Sri Lanka has officially opened bidding for petroleum exploration licenses in the Mannar Basin, with four blocks covering 34,000 square kilometers available to international energy companies.
Sri Lanka's Petroleum Development Authority has officially launched this year's exploration licensing round for the Mannar Basin, with a ceremony held at the Ceylon Petroleum Corporation headquarters on August 25th. The event was presided over by Minister of Power and Aviation Anura Karunathilake and Minister of Labour and Deputy Minister of Finance Anil Jayantha Fernando.
Four exploration blocks spanning approximately 34,000 square kilometers in the Mannar Basin will be offered to international energy firms under the new round. According to officials, previous exploration activities in the region have already confirmed the presence of both petroleum and natural gas deposits, including discoveries of natural gas and condensate.
The Petroleum Development Authority's Director General noted that international companies will now have the opportunity to conduct advanced geological surveys using modern techniques and technology. Participating firms will also gain access to existing geological data held by the Authority, providing a foundation for their exploration efforts.
Current estimates suggest the Mannar Basin could yield approximately 2 billion barrels of petroleum and 9 trillion cubic feet of natural gas through drilling operations. Officials emphasized that the relatively large unexplored portions of the basin present significant opportunities for international energy companies to conduct further exploration activities in the region.
