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Survey finds oil and gas in Maldives

Staff writer ▼ | August 4, 2015
A survey has shown evidence of oil or natural gas in the Maldives, Fisheries Minister Mohamed Shainee said.
Maldives oil gas
Energy business   A report conducted by the German University of Chamber Scientists
Speaking to reporters after returning from Germany to collect the survey report conducted by a group from the German University of Chamber Scientists, the Minister said although the survey proves the presence of liquid gas it does not detail specifics.

The report did not investigate the amount of natural gas or whether it would yield economic benefit to the Maldives, he added. However, the Minister said the survey has highlighted several potential areas of oil or natural gas deposits.

An oil exploration vessel would arrive in the country which would shed more light into the new findings, Shainee noted. He said the survey did not investigate extraction options.

With the new discovery, the government would now expand the survey throughout the Maldives, he added. According to the Minister, two companies from UK and Norway respectively have already expressed interest to undertake the survey.

“Such large corporations would not be interested if there wasn’t any cause for optimism. A team would come to Maldives very soon to submit their proposals. Once they share their respective proposals with the Economic Council, we will decide with whom we would move forward with,” Minister added.

He also said the project will be awarded to one of the two companies very soon