Sri Lanka is looking to attract international exploration and production (E&P) companies for four exploration blocks in the Mannar Basin as part of its efforts to develop its oil and gas industry. These four blocks, including 2026-MB-01, 2026-MB-02, 2026-MB-03, and 2026-MB-04, cover a total area of 33,964 square kilometers, located at water depths ranging from 100 meters to 3,000 meters.
Details of the Exploration Blocks
The exploration blocks are divided into various sizes, ranging from 5,689 square kilometers to 11,728 square kilometers. These blocks were officially opened for tender on August 25, 2023, with the deadline for submitting proposals set for February 2, 2027. Sri Lanka recently presented this information to international companies at the Global Energy Conference in London and intends to hold an international exhibition to attract investors in this sector.
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Investment Opportunities and Advantages
Previous explorations in the Mannar Basin have indicated the presence of an active petroleum system, leading to the discovery of gas and condensate. However, only a limited number of modern exploration wells have been drilled in this basin, and a significant portion of this area remains untested. Dr. Neel De Silva, Director General of the Sri Lanka Petroleum Development Authority (PDASL), stated that the purpose of holding this event in London is to provide an opportunity for international explorers to better understand the Mannar Basin and review the available technical information.
The PDASL has also planned to hold a virtual briefing for investors on October 21, 2023, where details regarding the blocks, technical data, and the licensing process will be outlined. The country will also continue to attract investors at the Asia Oil Geoscience Conference and Exhibition in Kuala Lumpur on November 16-17, 2023.
Requests for clarification on proposals will be accepted until January 12, 2027, after which the final deadline for submitting proposals will be February 2, 2027.
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