Govt To Evaluate Oil Exploration Bids-Min Fowzie
January 31, 2008 at 6:23 pm · Close Watch · Scroller · XFinancial
The Sri Lankan government will evaluate oil exploration bids from two companies from India and one from Cyprus over the next four months after tenders closed today, Minister Fowzie said.
ONGC Videsh Limited and Cairn India Limited from India and Niko Resource Cyprus Limited submitted six tenders for three blocks offered to investors, he said.
It is really need rough calculation how much oil we have? and if its in off shore i think India don’t have reliable technology in off shore.
Need to think about environment too. the country like canada they have really good policy by regarding people, economy,environment and ets. we need to follow them too.
Presumably the government would have done in-depth study, customized and consultative approach for a friendly environment, research, collaborative exercise while assessing the risks, and the sustainability of the business as a whole and at the same it is the responsibility of the government and the bidder to act as Global Corporate citizens to embrace the highest technology needed like the Digital Asset by Haliburton to preserve and have a friendly environment more decision making process would add some dimension.
If Oil strikes, it would greatly assist our economy and why we should not take the challenge and in the end the economy will thrive if transparency and reporting is done on a regular basis.
Oil is like a gold and every effort should be encouraged and appreciated not to mention the booming economy of Middle East, Venezuela etc.
Go for Gold should be the vision.
Abdul Muzahir
Grandpass