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India, China for oil exploration
Saturday, 8 July 2006 - 4:22 AM SL Time
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The Government has decided to permit India and China to explore oil along the Sri Lankan sea belt.
Accordingly, two out of the six blocks earmarked for oil exploration in the North Western sea areas will be entrusted to India and China for exploration, Transport and Petroleum Resources Development Minister A.H.M. Fowzie told the Daily News.
`The proposal received Cabinet approval this week. We will shortly call tenders for exploring the four remaining blocks,` the Minister said adding that they will continue conducting seismic surveys to identify more oil deposits along the sea belt from Puttalam to Hambantota.
According to the Minister, the bidding process which is to commence shortly will be open until December. The bids will be evaluated in January 2007 and the successful bidder will be announced by March.
The Gulf of Mannar has been identified for carrying out the first phase of oil exploration scheduled to commence in August 2007.
Fowzie said a large number of countries engaged in the world oil trade including petroleum giants like Iran and Saudi Arabia have already been made aware of the opportunities in Sri Lanka. These countries have also extended technological assistance and expertise for local oil exploration.
The management and overseeing of the oil exploration process will be vested in two companies fully owned by the Government.
`One of these companies will be entrusted with the task of supervising the oil drilling while the other company will be responsible for the venture`s management.`
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bulto
Joined: May 2006
Posts: 220
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8 Jul 2006 23:33:14 GMT Report for Abuse
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The management and overseeing of the oil exploration process will be vested in two companies fully owned by the Government.
'One of these companies will be entrusted with the task of supervising the oil drilling while the other company will be responsible for the venture's management.'
ahhh... two companies. twice the opportunity for the river of deals to flow to politico pockets
Edited By - bulto - 8 Jul 2006 23:33:55 GMT |
tigeress19
Senior Member
Joined: Jul 2005
Posts: 4941
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9 Jul 2006 12:36:22 GMT Report for Abuse
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Hope india and china stay out of Ceylon till the dispute come to an end between tamileelam and srilanka.
it is a trap!! |
BABA
Joined: May 2006
Posts: 505
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9 Jul 2006 16:23:26 GMT Report for Abuse
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| India,china,Pakistan,Japan,EU,Uk and US love Lanka oil now.So they are using satellites to search for under ground hidden treasures around NE,NW,N srilanka.Do they really looking for oil or for some thing else. |
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