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    Sri Lanka to auction M2 block next year


The block has two gas discoveries.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Security of Supply, Political, Ministries, Contracts and tenders, News By Country, Sri Lanka

Sri Lanka to auction M2 block next year

Sri Lanka will auction the M2 oil and gas block in Mannar basin early next year, local media outlet Economynext reported on November 23 citing a statement by the country’s energy minister Udaya Gammanpila.

“At the beginning of 2022 we will have an auction to get investors for the M2 block,” Gammanpila told the parliament.

The M2 block covers an area of 3,500 km2 and has two gas discoveries, Dorado 91 H/1z and Barracuda 1G/1, and a number of undrilled prospects. In 2013, Cairn India made two discoveries in the Dorado and Barracuda wells. However, the company quit operations in Sri Lanka in 2015 owing to the sharp fall in energy prices.

Gammanpila said the petroleum exploration office had hired a consultant to prepare a feasibility report on the Dorado well.