Sri Lanka is set to launch its Licensing Round 2026, inviting global energy companies to explore and produce offshore oil and gas, the Petroleum Development Authority of Sri Lanka (PDASL) said.
The licensing round will be formally launched at a press conference scheduled for August 25 at 10.00 a.m. at the Ceylon Petroleum Corporation auditorium.
According to the PDASL, the licensing round is a strategic initiative aimed at attracting international energy companies to undertake oil and gas exploration and production activities in Sri Lanka’s offshore areas.
The Authority said exploration carried out to date has confirmed the presence of viable gas accumulations off Sri Lanka’s west coast.
It said the timely development of these resources could strengthen the country’s energy security while serving as a catalyst for industrial growth.
Further details on the licensing round are expected to be announced at Tuesday’s launch. (Newswire)