Aker Kvaerner MH focuses on oil drilling here

The Norwegian oil drilling facilities company Aker Kvaerner MH has signed a letter of intent to develop a joint venture operation focusing on the upcoming oil drilling operation to be launched off the coast of Sri Lanka.

The signing is a result of the participation in "The Norway-Sri Lanka Match Making Program" funded by NORAD (The Norwegian Agency for Development Cooperation) and represented in Sri Lanka by the Ceylon Chamber of Commerce. The Letter of Intent was signed by Director of Capital Maharaja Organisation Limited Nimal Cooke and by Project Manager Aker Kvaerner MH, Ranjith Molegoda, a Sri Lankan living and working in Norway for the last 24 years.

The Letter of Intent states: "The main intention regarding this Letter of Intent is that "the preferred Sri Lankan partner", in co-operation with Aker Kvaerner MH, through a joint venture company, shall develop engineering, equipment and management services required to be a competitive contractor for oil and gas exploration business in Sri Lanka.

The objective is to ensure that complementary advanced technology is utilised to meet the requirement regarding high efficient drilling facilities which can operate with a minimum of emissions to the environment according to the best standards of the oil industry."

Molegoda Aker told a media briefing that Kvaerner MH Norway has been searching the market for a suitable Sri Lanka partner to serve the potential of the oil industry in Sri Lanka.

"In co-operation with NORAD and the Ceylon Chamber of Commerce, we found the ideal JV partner with the Maharaja Organisation Limited."