Agreement between Sri Lanka and India on the joint development of the Trinco Oil Tanks

Lanka IOC is a subsidiary of the Indian Oil Corporation which is under the ownership of India’s Ministry of Petroleum and Natural Gas.

 

Sri Lanka and India reached the agreement to implement a project to jointly develop Trincomalee Oil Tank Farm, after reviewing three existing deals between the countries through diplomatic talks.

 

“After reviewing the three existing agreements with the Government of India regarding the Trincomalee Oil Tank Complex through diplomatic talks, the two countries have reached an agreement to implement a joint development project.