Oil deposits: Bidding to open in July
Rajmi MANATUNGA
COLOMBO: The Government has decided to open oil exploration along Sri
Lanka's sea belt for bidding in July this year.
Transport and Petroleum Resources Development Minister A.H.M. Fowzie
told the Daily News that local and foreign investors will be six months
to bid for the venture.
"We have made arrangements to commence the bidding in June-July. It
will be open until end December. We will evaluate the bids in January
2007 and announce the successful bidder by March," he said.
Exploration activities are scheduled to commence in August 2007. The
Minister said the bay of Mannar has been identified for the first phase
of exploration.
"We have also decided to conduct seismic surveys in the coastal belt
along the Kaveri and Hambantota areas. I have directed officials to call
tenders for this," he said.
According to the Minister, the management and overseeing of oil
exploration will be vested in two Government owned companies. In view of
the bidding set to commence in July, the Petroleum Resources Development
Ministry has launched special advertising programmes to attract
internationally reputed firms to take up the exploration of oil
deposits.
Accordingly, business communities in leading oil trading countries
like Iran and the United Arab Emirates have already been made aware of
the opportunity. |