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.