The Attorney General has cleared the new Petroleum Resources Bill, leading it to be gazetted shortly for Parliamentary nod.
The approval of the Bill and follow up steps came up for discussion at this week’s meeting of Cabinet Ministers.
The Cabinet in January this year gave the go ahead to draft a new Act including provisions required to develop the petroleum and natural gas exploration and production industries in Sri Lanka. The new Act once passed by Parliament will replace existing the Petroleum Resources Act No. 26 of 2003.