National Oil Company to oversee oil/gas exploration

4 February 2015 03:36 am Views - {{hitsCtrl.values.hits}} 10 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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The Power and Energy Ministry is to set up a National Oil Company (NOC) as a private–public partnership venture to oversee the offshore gas and oil exploration in Sri Lanka, Minister Patali Champika Ranawaka said yesterday.

Minister Ranawaka told Daily Mirror that this company, once established, would function independent of the Ceylon Petroleum Corporation (CPC).
“Though this is a state company, it will be managed by the private sector. We do not possess technology in this sector. So, we need to find it from elsewhere,” he said.

Besides, the Minister said he would unveil the Ministry’s short term plan for restructuring and development of the entire sector. (Kelum Bandara)

Comments - 10

Patriot Wednesday, 04 February 2015 11:19 AM

"Oversee" is a state function, that not a matter to be delegated for private sector. If the CPC does not have the relevant expertise, hire expertise.

6 22

sunil Wednesday, 04 February 2015 01:24 PM

yaha palanaya. Influence of the west who wanted Mihinda out. American companies to come in now

16 18

seconded Wednesday, 04 February 2015 01:45 PM

Absolutly yes. Must check ministers ultimate objective here.

1 8

Sim Wednesday, 04 February 2015 04:17 PM

Chinese expertise cheap but no good.

15 5

Lal Wednesday, 04 February 2015 07:22 PM

This is the real reason behind the west sponsored regime change. If we allow this to happen, what has happened to counties like Sudan, Nigeria and East Timor will happened to us.

8 10

Chinese Wednesday, 04 February 2015 09:35 PM

Obivously you hv not met the real Chinese, swallow mind n frog in the well.

5 9

Geronimo-real-indian Thursday, 05 February 2015 12:33 AM

I work in the oil industry with the US majors.1. Please be aware of them2. Almost 90 % of oil

0 2

pri Thursday, 05 February 2015 01:26 AM

GOOD MOVE..............FOR OPEN ECONAMY

0 2

Shan Thursday, 05 February 2015 01:50 AM

You mean all the chinese in Colombo are fake?

0 1

PatrioticLankan Thursday, 05 February 2015 04:44 AM

It started! Sri Lankans are too blind and uneducated to see any of this coming....West will suck the resources out Lanka as it did to many other countries. All doom!!

1 1

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