Sri Lanka Cabinet approves fresh push for oil and gas exploration

Sri Lanka's Cabinet has approved measures to solicit fresh investment proposals for oil and gas exploration activities across the country's maritime zones and onshore areas.

The ministerial decision represents a renewed effort by the government to develop the island's energy resources and reduce dependence on imported fossil fuels. Officials indicated that the move aims to attract qualified international companies with the technical expertise and capital necessary for exploration and potential production ventures.

The initiative comes as Sri Lanka faces ongoing energy security challenges and seeks to diversify its fuel sources. Previous exploration efforts have identified potential hydrocarbon deposits in the island's exclusive economic zone, though commercial viability has yet to be established.

The government plans to issue fresh calls for expressions of interest from international oil and gas firms willing to undertake exploration activities under Sri Lankan licensing terms. Details regarding specific blocks available for bidding and timeline for the process are expected to be announced through the relevant energy ministry authorities.