Sri Lanka's Ministerial Consultative Committee on Energy Affairs has approved an Order governing the process for calling investment proposals for the exploration and development of the country's petroleum resources.
According to Parliament, the Committee approved the Order at a meeting held on September 11.
The Order was made by the Minister of Energy under Section 48 of the Petroleum Resources Act, No.21 of 2021, read with Section 17 of the Act.
It had previously received Cabinet approval and was published in Extraordinary Gazette No.2497/37 dated July 16, 2026.
Under the framework, a person seeking to explore or develop petroleum resources in one or more identified blocks must submit an investment proposal and pay the administrative fee specified in the relevant invitation for bids.
The development formalises the process through which investment proposals can be sought for petroleum exploration and development.
It should not be interpreted as evidence that commercially recoverable oil or gas has been discovered.
It also does not mean that exploration or development rights have already been awarded to a particular investor.
Those would require subsequent steps under the applicable legal and investment process.