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Sri Lanka says over 1 bln barrels of oil off coast
Friday, 2 February 2007 - 11:52 PM SL Time |  | |
COLOMBO (Reuters) - Seismic data shows more than 1.0 billion barrels of oil lie under the sea off Sri Lanka`s northwest coast, the island`s petroleum minister said on Friday, adding exploration bids would be called in early April.
If proven, such a find would be a major boost for a land which produces no crude oil of its own and must import all of its needs to the tune of between $1.0 billion to $2.0 billion a year -- which in turn hammers the island`s budget deficit.
`There are more than 1.0 billion barrels,` Petroleum and Petroleum Resources Development Minister A.H.M. Fowzie told Reuters in a telephone interview. `We are already making arrangements to call for bids ... in early April.`
Fowzie said eight blocks would be licenced, with China and India promised one each.
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Source(s)
http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2007-02-02T163704Z_01_NOOTR_RTRJONC_0_India-286124-2.xml&archived=False |
LankaTileke
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2 Feb 2007 18:06:21 GMT Report for Abuse
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Seismic data shows more than 1.0 billion barrels of oil lie under the sea off Sri Lanka's northwest coast,
Stupid Ruwani, I know you are waitin till they get oil.
I heard somewhere that if you get oil from Sri Lanka you will have to sell the petrol letre over Rs.300.
Edited By - LankaTileke - 2 Feb 2007 18:06:50 GMT |
MaKaSo
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2 Feb 2007 18:19:46 GMT Report for Abuse
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| Wayasata yanna yanna Fowzieyage thele wedi :):) |
LankaTileke
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2 Feb 2007 18:34:10 GMT Report for Abuse
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Sun,
This is said to be the current situation. If they (India, china , Norway, ect) need sri lankan made petrol letre below 100 rupee. they ve got to develop the technology they use to filter out the oil. it might take some time.
I have not verified this information. be careful. |
Piyal
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3 Feb 2007 00:46:29 GMT Report for Abuse
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According to this information, in 2034, we will be the oil superpower in the world.
Reasons,
The oil reserves in the world will be over by 2032 Feb 18.
According to the calculation below, we have oil for 27 more years.
Total oil consumption per day = 100,000 bbl ( source, CIA facts book, and approximated for future consumption)
We have oil for 10,000 days = 27 years.
This is only from northwest coast. Imagine the other oil reserves around the country.....
Hurry UUuuuuup, buy shares from oil companies..... |
wk4pce
Joined: Jun 2006
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6 Feb 2007 06:20:26 GMT Report for Abuse
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Stupid Ruwani, I know you are waitin till they get oil.
Stupid: Yes. But I dont think she is waiting for the oil but for the bye product 'Greece' to use as a lubricant.
Edited By - wk4pce - 6 Feb 2007 06:21:36 GMT |
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