Cabinet approves exploration of four petroleum and gas blocks in Mannar Basin

Friday, 9 May 2025 00:22 - - {{hitsCtrl.values.hits}}

In a renewed push to attract foreign investment into the energy sector, the Cabinet of Ministers at their meeting on Wednesday approved the exploration and potential production of petroleum and natural gas in four offshore plots within the Mannar Basin.

To support this initiative, the Cabinet of Ministers also approved the engagement of a qualified marketing consultant to develop and implement a targeted promotion strategy.

Addressing the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the aim is to woo credible investors with the technical and financial capacity to explore and develop the identified blocks.

The move follows earlier discoveries made by Cairn Lanka Ltd., in 2011, which confirmed two viable natural gas deposits in the M2 exploration block.

These findings validated the existence of a functioning hydrocarbon system in the region, raising the Basin’s profile as a prospective area for offshore energy development.

In accordance with the provisions of the Petroleum Resources Act, No. 21 of 2021, the Sri Lanka Petroleum Development Authority (SLPDA) has been vested the powers to call for investment proposals for the offshore petroleum and natural gas exploration plots in terms of the prescribed procedures of the regulations approved by the Cabinet of Ministers.

In 2021, a Government Gazette notification published a map of blocks for joint exploration for oil and gas in the Mannar Basin (https://www.ft.lk/front-page/Oil-and-gas-exploration-in-Mannar-Basin-mapped/44-721329).

Responding to questions about the outcomes of earlier exploration efforts, Dr. Jayatissa said the fresh push for investors is to secure new partnerships and commercialise the untapped resources, based on those studies conducted under previous administrations.

“It has been identified that two natural gas deposits are in the Basin. Now, we want to attract possible investors for these,” he added.

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