(MENAFN) Local media reported that a French multinational oil and gas consortium is to explore for petroleum resources along with Sri Lanka's government, Xinhua reported.
The exploration for oil and gas will take place in the seas east of the northern region extending southwards through much of the eastern coastal belt of the Indian Ocean island.
The French multinational integrated oil and natural gas company is described as one of "six majors" in the world in terms of revenue.
"In the event of confirmation of hydrocarbon potential, President Rajapaksa has told his ministers, the French company would submit a proposal and negotiate with the government for a Petroleum Resources Agreement," a local newspaper reported.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.