Cabinet approves formation of National Petroleum and Gas Company

The Department of Government Information said, “it has been proved that fossil fuel/petroleum and natural gas fields are available within the territory of Sri Lanka, according to a research performed in the land area of M2 of the Mannar bed within the period of 2001 and 2013.”

According to the Government Information Department, the aforementioned company is proposed to be established as a subsidiary company of Lanka Petroleum Corporation and the company will be entrusted with the responsibility of performing the activities and functions entrusted to it in terms of section V of Petroleum Resources Act No. 21 of 2021.