• Last Update 2022-12-02 06:27:00

Govt. to sign agreement for oil and gas exploration in the East


The government will sign an agreement today (Aug 27) with two energy companies in Norway and France to carry out a two-year oil and gas exploration exercise in the Eastern seas.

Vajira Dassanayake, Director General of the Petroleum Resources Development Secretariat (PRDS) said that the agreement would be signed between the government, Norway’s Equinor and France’s Total companies.

Total has already surveyed 50,000 square kilometres on the East coast unfer a previous study and Equinor will have a 30 percent stake in the exploration as per the new agreement.

This month the PRDS also signed an agreement with UK-based Bell Geospace Ltd to carry out a magnetic and gravity survey in the  Mannar and Cauveri Basins.

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