Chevron’s Sri Lanka unit reveals interest in offshore oil exploration

April 20, 2007 (LBO) – US oil giant Chevron-Texaco is interested in bidding for offshore oil exploration blocks in Sri Lankan waters, a top official of its local unit, Caltex Lubricants said. “Chevron is interested in the exploration opportunity,” Kishu Gomes, Managing Director Caltex in Sri Lanka told reporters.

“There is a delegation going to Houston, Texas to talk to prospective investors on first of May.”

Gomes is on the delegation and will talk about the private sector perspective of operating in Sri Lanka’s lubricant market at a breakfast meeting at the Offshore Technology Conference (OTC) to be held in Houston, Texas USA during 30 April – 3 May.

The conference, billed as one of the world’s largest events for the development of offshore resources, will be where Sri Lanka will make a formal announcement to the international community on its offshore petroleum prospects.

The government plans to call for bids for offshore exploration blocks in the Gulf of Mannar, off the island’s north-west, where seismic surveys have revealed a high probability of finding oil or gas.

India has found oil in waters on her side of the maritime boundary in the Gulf of Mannar.

Attendance at last year’s OTC rose to a 24-year high, as 59,236 exploration and production professionals met to learn about the latest technology to find the oil and gas that the world needs.

At the OTC industry breakfasts, Sri Lankan officials from the Ministry of Petroleum Resoruces, Board of Investment and other agencies will provide an overview of the country’s forthcoming first licensing round. Minister of Petroleum A.H.M. Fowzie is heading the delegation which includes Dr. Neil de Silva, Director General/CEO, Petroleum Resources Development Secretariat.