Historic oil exploration deal signed with India
The epoch-making Petroleum Resources Agreement was inked between Sri Lanka and India for the exploration and production of oil in Northern Sri Lankan waters in the Mannar basin, at Temple Trees yesterday with President Mahinda Rajapaksa presiding.
This historic agreement signed between Sri Lanka and India will now pave the way for the exploration and production of natural gas and hydrocarbon resources yet untapped by the nation.
The agreement was signed by Petroleum and Petroleum Resources Minister A..H.M. Fowzie for Sri Lanka and Indrajit Benerijee, the Chief Financial Officer of Cairn (Pvt) Limited of India.
A ‘Bonus Cheque’ of US $ one million was also handed over to President Rajapaksa, following the inking of the agreement.
Minister Fowzie addressing the participants at the signing ceremony, asserted that it was a ‘ray of hope’ in relieving all Sri Lankans from the ongoing global fuel crisis which has also plunged the whole world into a ‘coma’.
He thanked President Rajapaksa for his unstinted and concerted effort and his foresight in making this milestone venture a successful reality.
The Chief Financial Officer Cairn (Pvt) Limited Indrajit Benerijee noted that they were delighted to participate in this great venture as the first ‘Licencee’, to make Sri Lanka less dependant on oil imports.
Benerijee said the best practices and technology available in the sphere would be deployed in the process.
Read more,
http://www.dailynews.lk/2008/07/08/news01.asp
Photo,
http://www.dailynews.lk/2008/07/08/z_new350.jpg
This historic agreement signed between Sri Lanka and India will now pave the way for the exploration and production of natural gas and hydrocarbon resources yet untapped by the nation.
The agreement was signed by Petroleum and Petroleum Resources Minister A..H.M. Fowzie for Sri Lanka and Indrajit Benerijee, the Chief Financial Officer of Cairn (Pvt) Limited of India.
A ‘Bonus Cheque’ of US $ one million was also handed over to President Rajapaksa, following the inking of the agreement.
Minister Fowzie addressing the participants at the signing ceremony, asserted that it was a ‘ray of hope’ in relieving all Sri Lankans from the ongoing global fuel crisis which has also plunged the whole world into a ‘coma’.
He thanked President Rajapaksa for his unstinted and concerted effort and his foresight in making this milestone venture a successful reality.
The Chief Financial Officer Cairn (Pvt) Limited Indrajit Benerijee noted that they were delighted to participate in this great venture as the first ‘Licencee’, to make Sri Lanka less dependant on oil imports.
Benerijee said the best practices and technology available in the sphere would be deployed in the process.
Read more,
http://www.dailynews.lk/2008/07/08/news01.asp
Photo,
http://www.dailynews.lk/2008/07/08/z_new350.jpg
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