Country of origin: Sri Lanka

Opportunity Overview

Sri Lanka is blessed by nature in many ways which makes her, in all her glory, the island paradise and the Pearl of the Indian Ocean. Another untouched gem, among others, is the oil and natural gas off her shores.

According to the Ministry of Petroleum Resources Development, plans have been formulated to move forward with a strategic oil and gas exploration and development plan. One of the key components of the plans is to commercialise natural gas discoveries in Block M2 of the Mannar Basin.

The government has now opened the Block M2 as part of a limited tender offer, to find a partner to appraise and develop the discovery of natural gas, as well as to explore for additional prospects, said the Petroleum Resources Development Secretariat. The block contains two natural gas and condensate discoveries:

· Dorado

· Barracuda

They were discovered in exploration activities carried out seven years ago in 2011.

Location 

 The volumetric analysis of these two discoveries has indicated a combined potential reservoir capacity in excess of 2 Trillion Cubic feet of natural gas and 10 million BBL (barrels) of condensate.

The Mannar basin has sufficiently thick and mature sedimentary deposits that may yield high quality oil and natural gas which would be adequate for the next sixty years.

Initial studies of well data and regional studies indicate that the source rocks have the potential to generate 5 Billion barrels of oil and 9 Trillion Cubic feet of natural gas.

The Invitation

· Hence Ministry of Petroleum Resources Development intends to call for fresh bids for oil exploration in Mannar Basin

Potential Investor / Developers are invited for Foreign Direct Investment or a composition of a Joint Venture with Chelina Capital Corporation. Recommended initial step is to submit an Expression of Interest on the interested project. Followed by a preliminary proposal including, company profile, Board of Directors profiles, Past Experience, Technological Capabilities, Patented Technology if any, Competitive advantage of technology and materials utilized to complete the project, Past Three years audited financial reports and the end to end solution offered for the project

Contact Number：010-82080854