“The tasks of the consultant include updating the current model petroleum resource agreement, reviewing and revising the economic model and fiscal regime and promoting and marketing the license round”, added the country’s Petroleum Resources Development Secretariat in an advertisement published on its website.
It says, companies with previous experience in conducting licensing rounds are invited to submit bids by 12:00 noon on the 2nd July 2012.
Companies from across the world are eligible to apply, if they meet the criteria.
Sri Lanka is planning to market around 8 blocks in the Gulf of Mannar Basin with each block ranging an extent of around 3400 to over 7000 square km.
A PRDS official familiar with the matter said, “We want to go ahead with the licensing round this year”.
Already, India’s Cairn Lanka is engaged in exploration activities in one block and has discovered the existence of gas in two wells.
However, the commerciality of the prospects is yet to be announced by Cairn Lanka.