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Jun29
Sri Lanka oil exploration : Government should focus on legal matters
Currently, it is the developing and underdeveloped economies that are suffering most from the rising price of fuel. Sri Lanka is a small under developed country and it has become desperate to explore its own oil resources to meet its domestic needs. Sri Lanka’s Petroleum Development Secretariat (PRDS) said that the Sri Lankan cabinet will soon decide to award the exploration rights to the successful bidder. Besides, news of ‘Awarding of Oil Exploration rights’ are coming out in various newspapers. However, the government officials related to the petroleum department should be more careful about oil drilling. It is a good thing that government is showing enthusiasm but Sri Lanka does not have any serious knowledge about oil exploration. Hence it would be better if the government officials and others involved in this matter be more vigilant. The Sunday Times reports: 

Being cautious is not being lethargic, but being vigilant to safeguard the national resources, which are the common heritage of all Sri Lankans, not only that of the PRDS. Therefore every citizen has a stake in this matter, and public opinion is of paramount interest. It has to be borne in mind that when one drills for oil, it is not only the petroleum that you are looking for, but also other hydrocarbons including natural gas, as well as other mineral resources that may be available in the seabed of the continental shelf. It is necessary that all these aspects be covered adequately, prior to starting operations.

Petrol pump 

The government should focus more on legal issues related to oil exploration. The necessity to develop laws has been told by the country’s newspapers in November 2002 and February 2003. The government is mainly focusing on oil exploration but there will be many by products such as natural gas and other minerals. Government should develop laws regarding these issues. In addition, environment should be a major concern. If the exploration of oil causes pollution in the sea water, this will create a serious problem. Hence, the government should work on developing the existing laws regarding oil exploration before it hands out exploration rights.

Related article:
The Sunday Times

 


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