Will commence extracting gas in next five to six years:Petroleum Resources Development Minister

Will commence extracting gas in next five to six years:Petroleum Resources Development Minister

Will commence extracting gas in next five to six years:Petroleum Resources Development Minister

Written by Tharushan Fernando

27 Nov, 2015 | 2:07 pm

A media briefing was convened on Thursday to elaborate on the process of the Oil and Natural Gas Project in the Mannar Basin.

Minister of Petroleum Resources Development, Chandima Weerakkody noted:

So far we have carried out seismic surveys on four wells and the seismic surveys have proved that two wells contain the deposits.

He further stated:

We hope to commence the next round of bidding in January or February, and leading companies have focussd there attention on the blocks for oil and gas exploration.

He also stated:

Lukoil is a French company and we are planning to carry out a joint study with that company

When questioned as to when Sri Lanka can commence extracting oil, the minster stated that “Casting aside oil, we believe that we will commence extracting gas in the next 5 to 6 years”.

 

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