High-powered committees evaluate oil tenders

by L. S. A. Wedaarachchi

[email protected]

The tenders submitted by international oil exploration companies for oil and gas exploration in the Mannar Basin of Sri Lanka are being evaluated by the two high-powered committees appointed by the Cabinet.

The committees are Cabinet Appraising Negotiated Committee (CAN) and Technical Evaluation Committee (TEC). CAN has prepared and handed over the terms of reference to the Technical Evaluation Committee (TEC), said Secretary, Petroleum and Petroleum Development A. P. A. Gunasekara.

The success of the oil and gas exploration will be decisive for Sri Lanka's future.

Therefore, under the guidance of the Cabinet and the Minister of Petroleum Development it is being handled in a transparent manner with utmost care, he said. The Government called for worldwide tenders for three exploration blocks in the Mannar Basin in May last year.

Three international oil exploration companies tendered for the multi-million dollar project.

The seismic data provided by an internationally reputed Norwegian firm has confirmed the potential for viable oil resources in the Mannar Basin of the West coast of Sri Lanka. The 2, 3 and 4 blocks of the Mannar basin will be given to the successful tenderer and the number one block has been already offered to the Indian government.