Parliament Approves Investment Proposals for Petroleum Exploration 📈

• Regulatory Approval: The Ministerial Consultative Committee on Energy Affairs approved the Order calling for investment proposals to explore and develop Sri Lanka's petroleum resources. • Legal Basis: The Order was made under Sections 17 and 48 of the Petroleum Resources Act, No. 21 of 2021, and officially gazetted via Extraordinary Gazette No. 2497/37 on 16 July 2026. • Investment Terms: Interested investors for identified exploration blocks must submit proposals alongside the required administrative fees detailed in the bid invitations. • Economic Context: Paves the way for foreign direct investment in the energy sector, supporting efforts toward national energy security, resource diversification, and foreign exchange generation.