Sri Lanka will negotiate with the Oil and Natural Gas Corp for a new oil block after the Indian state-run firm rejected an offer to operate a block in the island's northwest Mannar basin, officials said.
Sri Lankan minister of petroleum and petroleum development A H M Fowzie said the Indian company had asked for a new block and they have not rejected the offer.
Sri Lanka has eight exploration blocks in the Mannar basin, three of which are up for tender and two have been assigned to China and India on nomination basis. The government is looking for the exploration process to start by August 2008, the non-oil producing nation expects its first commercial crude oil production by 2010.
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