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Crude oil and natural gas found in Mannar basin can meet Sri Lanka's energy needs for 60 yrs

The Mannar offshore basin adjoining South Tamil Nadu contains about five billion barrels of oil and nine trillion cubic feet of natural gas, the Sri Lankan Parliament was informed on Friday (23 June 17).

The amount of fuel and natural gas there is sufficient to meet the island's energy needs for 60 years to come, says the latest report of the Public Accounts Committee presented to Parliament by its Chairman Minister Lasantha Alagiyawanna on June 23.

The top brass of the Sri Lanka's Ministry of Petroleum resources development apprised the members of the Parliament's public accounts committee about the current state of the exploration of petroleum.

The officials told the Committee that a sum of one billion will be required to extract oil and natural gas from the basin. The Petroleum Resources Development Secretariat has been trying to find an investor as the M2 area of the Mannar Basin is capable of moving from the exploration stage to the development stage, the PAC report says.


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