Scenting Oil

April 6 (LBO) – The top official in charge of Sri Lanka’s search for oil has told the corporate sector to be ready to provide the support service and skills required by an offshore petroleum industry. Three of the eight remaining blocks will be opened for bidding this year, with the others following in a couple of years once more data is acquired. It is important for the business sector to take an active approach (in developing an oil industry), Neil De Silva, director general of petroleum resources development, said Friday.

We’re at the beginning of an oil and gas industry in Sri Lanka, he told a seminar organised by the Ceylon Chamber of Commerce to prepare the corporate sector for the new industry.

Oil is a difficult business for local companies to break into, he warned, referring to difficulties faced by Scotland, Norway and Canada in developing their own offshore petroleum industries.

Bidding Round

The bidding round for offshore blocks in the Mannar basin, northwest of Sri Lanka will be announced in Colombo this month and internationally on May 1 at an ocean technology conference in Houston, Texas, USA.

The Petroleum Resources Development Secret