Pakistan is looking into a possibility of exploring for oil and gas off the coast of Sri Lanka.
The Sri Lankan Daily Mirror has been informed by Sardar Ayaz Sadiq, the Speaker of the National Assembly of Pakistan, that Pakistan is looking to bolster cooperation between the two countries, with a focus on oil and gas exploration and sugar processing.
Working petroleum system
Cairn Lanka, a subsidiary of oil and gas company Cairn, in 2011 made two gas and condensate discoveries off the Indian Ocean island nation in the Mannar Basin. Cairn Lanka’s successful drilling programme – the first in Sri Lanka in 30 years – has established a working petroleum system in the frontier Mannar Basin.
The company is now in talks with the Sri Lankan authorities on how to monetize the discovered gas resources. The government has also granted an
extension to the Cairn’s current exploration phase up to April 2014.
Offshore Energy Today Staff, December 26, 2013