Tuesday, August 25 2026
Tuesday, August 25 2026
MONETABRIEF – Sri Lanka is offering four oil exploration in the Mannar Basin to investors starting from August 25, Director General of the Petroleum Development Authority Neil de Silva said.
The four blocks in the North West and West of Sri Lanka running from Mannar to around Galle covering 33,964 square kilometres.
"We believe these blocks represent a frontier exploration opportunity in the Indian Ocean," Petroleum Minister Aruna Karunathilaka said.
Sri Lanka hopes to get the benefits of shared prosperity from the effort, Deputy Finance Minister Anil Jayantha said.
A website is opened for investors at www.srilankalicensinground.com
Bid documents will be available from August 25, and the data room will open on September 01.
There could be two billion barrels of oil and 9 trillion cubic metres of gas, in the Mannar basin, De Silva said.
Sri Lanka will meet investors at the World Energies Summit in London on September 29 to 30, and at the Asia Petroleum Geoscience Conference and Exhibition in Kuala Lumpur from November 16 to 17.
A virtual briefing will be held on October 21.
The bids will close in early 2027, Fernando said.
Sri Lanka has already discovered traces of gas in the Northern Mannar Basin which was not developed due to weak commercial viability. (Colombo/Aug25/2026)
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