November 21, 2019
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    Govt. signs agreement for offshore oil and natural gas exploration

    August 15, 2019

    Sri Lanka's government has signed an agreement with the Bell Geospace Ltd to explore for offshore oil and gas deposits in Mannar Basin.The agreement was signed under the patronage of the Minister of Highways and Road Development Kabir Hashim at the Ministry today.Bell Geospace General Manager John McFarlane and Minister Kabir Hashim attended the signing event at the Ministry.

    The agreement was signed for a project to carry out Airborne Gravity, Gravity Gradiometry and Magnetic Surveys over the sea coast of Sri Lanka to explore the mineral gas fields said to be situated around the Cauvery Basin off the northern peninsula and the Mannar Basin off the west coast.
    Bell Geospace uses a technique which exploits magnetic anomalies in the Earth's magnetic field to search for petroleum and mineral deposits below the surface. Exploration of using gravity and magnetic techniques enable faster detection of deposits and give more precise locations for drilling.

    Sri Lanka's Petroleum Resources Development Secretariat (PRDS) has identified several blocks for offshore oil exploration and the government has called for international competitive bids for exploration and production of oil and natural gas in M1 and C1 blocks.The Cabinet in February this year approved awarding the contract to carry out the survey, to Bell Geospace Ltd. in accordance with the recommendation of the Cabinet Appointed Negotiation Committee.


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