SubSea Asia Conference and Exhibition, Malaysia:

UKTI presents local oil opportunities

A scene at the exhibition

Colombo British High Commission UK Trade and Investment (UKTI) recently attended the SubSea Asia Conference and Exhibition in Malaysia, where UKTI Deputy Head Nadeesha Epasinghe presented the opportunities in oil exploration available in Sri Lanka to over twenty-five major industry players from the UK.

As Sri Lanka embarks on the journey to find oil and gas off the coast of Mannar, the UK is at the forefront of partnering the country in this new chapter of economic development. Cairn Lanka, a subsidy of Cairn Energy PLC, will start a three well drilling campaign off the Mannar Basin in the first quarter of 2011, marking the beginning of petroleum exploration in Sri Lanka after a hiatus of 25 years. Cairn Energy is one of Europe's largest independent oil and gas exploration and production companies. They are listed on the London Stock Exchange and based in Edinburgh with assets in India, Greenland, Bangladesh and now, Sri Lanka.

Meanwhile, UKTI continues to actively consult key Government officials identifying areas where UK companies could help develop the Sri Lankan economy. "UKTI has been looking at the opportunities available in Sri Lanka for UK companies to invest in business that would benefit both countries and further strengthen our strong economic ties. We have been particularly examining some key sectors such as infrastructure, tourism, ICT, education and of course oil and gas exploration, which we feel would provide the best fit for both the UK and Sri Lanka to partner together," Epasinghe said.