Sri Lanka approves process to seek petroleum exploration investments

Sri Lanka’s Ministerial Consultative Committee on Energy has approved an Order setting out the process to call for investment proposals for the exploration and development of petroleum resources in the country.

The approval was granted at a committee meeting held in Parliament on September 11, 2026, chaired by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka.

The Order was made by the Minister of Energy under Section 48 of the Petroleum Resources Act, No. 21 of 2021, read together with Section 17 of the Act.

It had earlier been approved by the Cabinet of Ministers and was published in Extraordinary Gazette No. 2497/37 dated July 16, 2026.

Under the Order, any person seeking to explore or develop petroleum resources in one or more identified blocks must submit an investment proposal.

Applicants will also be required to pay the administrative fee specified in the relevant invitation for bids.

Deputy Minister of Energy Arkam Illyas, Members of Parliament, officials of the Ministry of Energy and other officials attended the meeting.