Sri Lanka’s Petroleum Resources Development Secretariat (PRDS) invites international competitive bids for exploration and production of Oil and Natural Gas in M1 and C1 offshore exploration blocks in Mannar and Cauvery basins, Sri Lanka.
The Mannar Basin’s M1 block and its northern neighbour, the Cauvery Basin’s C1 block cover 2,779 square kilometres and 2,246 square kilometres respectively.
M1’s southern neighbour, the M2 block, has gas deposits according to earlier finding. The M2 block contains two natural gas and condensate discoveries Dorado and Barracuda both of which were discovered by exploration activities carried out by Cairn India’s 100% owned subsidiary Cairn Lanka in 2011. PRDS called international tenders for M2 block in January 2019 for re-licensing and the bidding round would have ended on May 07 but the government had extended the deadline by a month.
A Chinese seismic vessel began surveying the Mannar Basin in October 2018 and the US firm Bell Geospace Ltd won a contract in February 2019 to survey the Mannar and Cauvery Basins for oil and gas deposits using gravity and magnetic techniques.
The bids for the M1 and C1 blocks will close on July 15, 2019 at 12:00 hours Sri Lanka Standard Time.
To find more details on this, please visit PRDS Website.