Oil and Natural Gas Corporation Videsh Limited (OVL) has sought approval from the Ministry of External Affairs to take part in the second round of bidding for oil and gas blocks in Sri Lanka.
Officials in the Petroleum Ministry said that in view of the sensitivity of the issue, it would be better to seek requisite clearance to take part in the auction process of 13 offshore oil and gas blocks in Sri Lanka, bids for which close on November 29. “We have approached the MEA for clearance as it has been instrumental in the past in working with the Sri Lankan authorities to ensure India is a part of the bidding process for the oil and gas blocks being offered by Colombo in the Cauvery and Manner basins,” a senior Petroleum Ministry official said. “It is important that OVL and other Indian oil companies take active interest in the hydrocarbon sector of Sri Lanka, keeping in mind the strategic importance and location of the island nation ,” the official added.