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Land Rights Issuance

Rrt III of the Petroleum Resources Act deals with the Land Rights Issuance.

Every person who conducts petroleum operations in Sri Lanka should, prior to carrying out the operations, enter into a Petroleum Resources Agreement (PRA) or any other relevant Agreement with the Government of Sri Lanka or shall be otherwise authorized under the Act.

PRDC is authorized to invite applications for defined exploration blocks and such applications are evaluated and the Cabinet of Ministers will select from the applicants, the person whom the Cabinet of Ministers considers best qualified by experience and technical capacity to conduct petroleum operations and whose participation would afford the greatest economic benefit to Sri Lanka, as the Contractor to whom the particular exploration block should be awarded.

When a Petroleum Resources Agreement is entered into between the Government of Sri Lanka and a Contractor, within 15 days from the effective date of the Agreement, the Contractor shall apply and obtain an Exploration Licence from the PRDC to conduct exploration activities within the exploration block prescribed in the relevant PRA.egisters and other records (instruments and interests) pertaining to exploration/ development blocks are maintained at the PRDS registry.

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