CEYPETCO to seek investor for Mannar Basin natural gas extraction

The Ceylon Petroleum Corporation (CEYPETCO) will begin calling for proposals this month to select a suitable investor to extract and use natural gas resources in the Mannar Basin.

CEYPETCO Managing Director Dr. Mayura Neththikumarage said the Petroleum Development Authority of Sri Lanka has scientifically confirmed the presence of natural gas in the Mannar Basin.

He said the investor selection process will be carried out with the approval of the procurement committee.

Interested investors will be given about five months to submit their applications under the proposed process.