E&P firm starts amid Sri Lankan bid round

Ceylan Energy, Sri Lanka’s first oil and gas exploration and production company, started business in Colombo as a symposium began in conjunction with the country’s second licensing round.

Chairman of the new company is Harry Kulasinghe, who has more than 30 years of oil and gas industry experience, recently as vice-president, business development for Aker Subsea Ltd. in the UK and as a nonexecutive director of Hayleys Energy Services Lanka Pvt. Ltd. in Sri Lanka.

In a press statement, the new company said it was sponsoring the July 8-12 symposium in Colombo, organized by the Petroleum Resources Development Secretariat, promoting the country’s new licensing round.

The PRDS is taking bids until Nov. 29 this year on 13 offshore blocks in the Cauvery and Mannar basins.

Its “petroleum resources agreement” includes production sharing with royalty and tax. The agreement provides for an 8-year, three-phase exploration license and a 20-year, extendable development license.

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