Parliament will debate on local oil exploration

Local Petroleum Minister A.H.M.Fowzi said the government plans to hold a parliamentary debate on oil exploration in mid of next month.

The debate was a request of the JVP Group Leader Anura Kumara Dissanayake .

Replying to a earlier statement of the NFF Ledear Wimal Weerawansa , Minister Fowzi told the forth-coming Oil exploration business would bring 100 percent successful results to the government of Sri Lanka.The Cabinet of Ministers already approved the agreement .The Attorney General Department throughly went through this agreement and the Supreme Court also approved it, said the minister.

According to the local energy ministry the Sri Lankan government has signed an agreement with a mainly British-owned firm to explore for oil and gas off the country's north-eastern coast. The company, Cairn India Limited, is expected to spend more than $100m on exploration in the Mannar basin over the next three years. Once any commercial exploitation of the resources begins, the firm will be allowed to take up to 65% of revenue.

Cairn India is expected to begin exploration work later this year.