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Cablegate: Imi: Oil Exploration Opportunity in Sri

This record is a partial extract of the original cable. The full text of the original cable is not available.

UNCLAS COLOMBO 002199

SIPDIS

USDOC FOR 4530/ITA/MAC/ANESA/OSA
EMBASSIES FOR FCS OFFICES
STATE FOR SA/INS, EB

E.O 12958: N/A
TAGS: BEXP EPET ENRG BTIO CE ECONOMICS
SUBJECT: IMI: OIL EXPLORATION OPPORTUNITY IN SRI
LANKA


1. Summary: Hoping to begin off-shore oil
prospecting soon, the Sri Lanka Government intends to
announce its plans to international oil companies at
a workshop in early 2004. End Summary.

2. The Government plans to open areas in the Mannar
Basin off the north-western coast of Sri Lanka for
oil exploration. Keen to engage the participation of
international oil companies, the GSL will hold a
workshop in Colombo for interested companies in the
first quarter of 2004. At this workshop, the terms
and conditions for exploration and general
information on petroleum prospects of the area, the
regulatory environment, business climate and
incentives will be announced. Following the
workshop, the GSL hopes to issue oil exploration
licenses to about nine companies through a
competitive bidding process.

3. The Parliament has recently approved a new
Petroleum Resources Act to facilitate oil exploration
by private companies. The Act provides for the
establishment of a Petroleum Resources Development
Committee and a Petroleum Resources Secretariat to
coordinate exploration activities. The GSL is also
in the process of finalizing petroleum operation
regulations and model contracts under the new Act.

4. U.S. companies interested in bidding can purchase
exploration data from the following companies:

New seismic data acquired in June 2001 are available
from:
TGS-NOPEC Geophysical Company Ltd.
Level 5 MLC Building
1100, Hay Street
West Perth 6005
Western Australia.
Ph: 618-9480-0000
Fax: 618-9321-5312
Contact Person: Paul Gilleran
Email: paulg@tgsnopec.com.au

Information on TGS NOPEC can be found on
www.tgsnopec.no

A satellite gravity study completed in 2002 can be
obtained from:
Petroscan AB
Ovanskogsliden 12
41119, Gothenburg
Sweden.
Ph: 46-31-101720
Fax: 46-31-135184
Contact person: Mr. Bert Lundgren
Email: bert@petroscan.se

Information on Petroscan AB can be found on
www.petroscan.se

5. US companies may contact the following GSL agency
for information regarding the upcoming workshop:
Ministry of Power and Energy, 80 Sir Ernest De Silva
Mawatha, Colombo 7. Sri Lanka. Ph: 94-11-256-4847
Fax: 94-11-256-4474. Contact Person: M.
Warnakulasooriya, Secretary.

LUNSTEAD

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