Sri Lanka, Nov. 4 -- Sri Lanka is planning to open international tenders during the first week of next month, calling for bids for oil and gas exploration and development in the Mannar Basin, an official said.

The government earlier invited tenders to select a consultancy firm with expertise to manage the international bidding process for upstream petroleum development. However, an official of the Petroleum Development Authority said that the government will proceed to call for fresh tenders for exploration and development in the Mannar Basin, with or without the appointment of a new consultant.

According to a 2021 press release issued by the Parliamentary Media Unit, oil and gas resources valued at around US$267 billion are available i...