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French consortium to explore oil, gas in Sri Lanka

Staff writer ▼ | May 21, 2014
A French multinational oil and gas consortium is to explore with Sri Lanka's government for petroleum resources in the island state's strategic north and eastern seas, local media reported.
Sri Lanka oil
Sri Lanka oilA French multinational oil and gas consortium is to explore with Sri Lanka's government for petroleum resources in the island state's strategic north and eastern seas, local media reported.


The exploration for oil and gas is to happen in the seas east of the northern region extending southwards through much of the eastern coastal belt of the Indian Ocean island.

For this purpose, the Petroleum Resources Development Committee (PRDC) which functions under President Mahinda Rajapaksa, intends to enter into a Joint Study Agreement with Total E & P Activities Petrolieres of Paris, reported the local Sunday Times.

The French multinational integrated oil and natural gas company is identified as one of "six majors" in the world in terms of revenue.

The firm responded to a call for proposals by the Sri Lankan government to determine 'hydrocarbon potential of ultra-deep offshore blocks' of Sri Lanka's waters that are not covered by current licensing rounds.


 

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