Press briefing of Cabinet Decision taken on 2021-07-19

Petroleum Resource Development Bill

- The Cabinet, at its meeting held on 2021‑01‑25 granted approval to formulate a new Act, including necessary provisions for the development of petroleum and gas exploration and production industry in Sri lanka by repealing the Petroleum Resources Act No. 26 of 2003. Accordingly, the clearance of the Attorney General has been received to the Bill prepared by the Legal Draftsman. As such, the proposal made by the Minister of Energy to publish the said draft bill in the Government Gazette and present the same thereafter in Parliament, was approved by the Cabinet.