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Aidoneus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-23-04 01:49 AM
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Iran to aid Sri Lanka's oil exploration
Iran to aid Sri Lanka's oil exploration
Thursday 22 January 2004

Iran will help Sri Lanka prospect for oil besides opening a $20 million credit line for the country's power and energy sector, it was announced on Thursday.

The agreement was reached between Iranian Vice-Minister for International Affairs Muhammad Khazaee and Sri Lanka's Energy Minister Karu Jayasuriya in Colombo on Wednesday.

Details of the financial package will be worked out by officials on both sides, the energy ministry said.

The two sides discussed plans to explore oil and gas along the island's northwestern sea board.

"Iranian delegates agreed to get Iranian companies involved in the process once the bidding round is announced and to provide technical assistance for exploration and exploitation of oil and gas," an energy ministry official said.

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