Equinor and Total sign agreement with government for oil and gas exploration

Colombo (News 1st): The government signed an agreement with two energy companies in Norway and France to carry out a two-year oil and gas exploration exercise in the Eastern seas. The agreement was signed between the government, Norway’s Equinor and France’s Total companies. According to the agreement, Norwegian energy firm Equinor would survey the offshore blocks JS5 and JS6 in the Lanka basin for oil and gas deposits. Total has already surveyed 50,000 square kilometres on the East coast under a previous study and Equinor will have a 30% stake in the exploration as per the new agreement. Total will sign as the project leader, and a deed certificate will be issued to Equinor by the Sri Lankan government.