Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka to amend the Petroleum Resources Act to comply with international standards
Sat, Jan 26, 2013, 01:19 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 26, Colombo: Sri Lanka will make amendments to its Petroleum Resources Act No. 26 of 2003 to conform to the international standards in the petroleum industry.

The petroleum industry laws will be amended to meet the required standards of global expectations of the petroleum Industry, the Government said.

The amended act will also introduce principles of good governance into Sri Lanka's Oil and Gas industry.

The Cabinet has approved the proposal to amend the Petroleum Act forwarded by President Mahinda Rajapaksa.

Sri Lanka launched the exploration of the northwestern Mannar sea bed for oil in 2008 and gave the top block, Block 1, of the eight blocks identified by seismic studies as viable oil resources to Cairn India for drilling.

Cairn Lanka, subsidiary of Cairn India discovered gas and liquid hydrocarbons deposits in two of the three wells drilled in 2011and the company is set to launch its second phase of operations this year.

Sri Lanka has decided to expand the oil exploration activities from Mannar to Galle in the South this year.



ColomboPage - Recent 10 Stories
Sri Lanka's Dimuth Karunaratne injured, Kusal Janith Perera leaves for Australia
-- [12 minutes ago]
Sri Lanka's missing persons commission to hand in report to President
-- [6 hours ago]
Sri Lanka steps up battle against errant traders for not passing relief measures to consumers
-- [7 hours ago]
Sri Lanka's Marxist party reiterates need to investigate alleged coup plot by former regime
-- [8 hours ago]
Indian Prime Minister to address Sri Lankan parliament during visit
-- [8 hours ago]
Sri Lankan minister says 90 percent of state revenue used on debt repayment
-- [8 hours ago]
Sri Lanka police arrest four over alleged coal import fraud
-- [9 hours ago]
Sri Lanka’s Chinese funded Port City Project temporarily suspended
Sri Lanka's national carrier losses amount to over Rs. 32 billion in 2014, up by 24%
Sri Lanka to probe previous government's payments to US lobbying firms

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.