• Sector:
  Energy
• Project name:
  Promotion of Private Sector Involvement In Oil and Gas Exploration
• Country:
  Sri Lanka
• Project location:
  Colombo
• Name of client:
  Asian Development Bank

Description of project:
Technical Assistance to assist the Government of Sri Lanka to encourage private investment in oil and gas exploration. The TA reprocessed existing exploration data, developed a Web Site, drafted new legislation, recommended new tariffs structures and designed a promotional campaign.

Services provided:
Review the geological data and reinterpret the petroleum potential of deep offshore areas including an assessment of the prospects for commercial oil and gas development. Review and update the Sri Lankan petroleum Production Sharing Contracts (PSC) model to ensure that it offers exploration terms and consitions that include commitments on financial control and assignment of environmental and safety responsibilities and assure that the terms are attractive to the Government and international oil companies. On the bais of the preceding geological and legal work prepare a marketing campaign aimed at inducing international exploration groups to explore for petroleum.

Deliverables included:

• An inception report reviewing the work to be carried out based on the quanity of data.
• A technical report presenting the conclusions of the review of Sri Lankan petroleum prospects as a result of the geological interpretation work.
• A legal report including proposed amendments to the Sri Lankan policy framework and an updated model for a PSC.