TEC appointed to look at oil bids

A 7-member Technical Evaluation Committee (TEC) has been appointed by the Ministry of Petroleum and Petroleum Resources Development to evaluate the bids from three foreign companies for oil and gas exploration in Sri Lanka. The three companies, Cairn India Ltd, ONGC Videsh Ltd and Niko Resources (Cyprus) Ltd have submitted bids for the blocks which were on offer in the Mannar Basin.

Minister of Petroleum and Petroleum Resources Development, A.H.M. Fowzie told The Sunday Times FT that the TEC was appointed two weeks ago and was certified last week and that the members of the committees are mostly qualified and understand oil exploration. The Chairman of the TEC is Professor Ananda Gunathilaka from the National Science Foundation. Other members include a Central Bank official from the Economics Department as well as a reservoir engineer and a physicist.
Professor Gunathilaka declined to divulge the names of the other members of the TEC as it was confidential information but did say that the committee is made up of very technical people.

In addition to the TEC, a Cabinet Appointed Negotiating Committee (CANC) was also appointed comprising of the Director General of the Petroleum Resources Development Secretariat (PRDS), Dr. Neil De Silva and the Central Bank's Deputy Governor, Dr. Ranee Jayamaha.