Press briefing of Cabinet Decision taken on 2018-07-31

Calling for bids from the competent International Oil Companies for petroleum exploration, development and production of the Mannar and Cauvery basins

- It has been found that a significant economic benefit can be gained with the use of oil and gas extracted from the local resources as an energy resource and the oil companies and the Geo Scientists have shown great interest and attracted to the areas of Mannar and Cauvery basins believed to possess petroleum. Accordingly, the proposal made by Hon. Arjuna Ranatunga, the Minister of Petroleum Resources Development, to call for bids from the International Oil Companies for petroleum exploration, development and production activities in the areas where the petroleum reserves are expected to exist, was approved by the Cabinet.