Qatar urged to participate in oil exploration

Foreign Affairs Minister Rohitha Bogollagama has urged Qatar to actively participate in oil exploration in Sri Lanka and requested for assistance in establishing an LNG terminal.

The offer was made when Minister Bogollagama called on Qatar’s authorities, including Emir Sheikh Hamad bin Khalifa al-Thani, and Prime Minister Sheikh Hamad bin Jassim bin Jabor al-Thani, a press statement from the Foreign Affairs Ministry said.

The statement noted that Qatar agreed to provide free technical assistance in Sri Lanka’s quest for the offshore exploration of oil. However, the request for assistance in establishing an LNG terminal would be considered once the total survey of reserves is completed in 2012.

The statement noted that much opportunity existed for foreign participation in the areas of trade, investment, tourism and petroleum exploration.

“Referring in particular to trade and direct foreign investment, the Minister said that Qatari businessmen could invest in Sri Lanka, one of the most assured locations in terms of facilities and investment guarantees, so as to avail themselves of the opportunity to export to the vast Indian and Pakistani markets, with which Sri Lanka has Free Trade Agreements. He also explained the opportunities available to export to the European Union under the GSP+ concessions granted to Sri Lanka by the European Union,” it said.

The release stated, “Sheikh Hamad bin Jassim bin Jabor Al-Thani thanked the Minister for the extensive briefing and acknowledged that there was scope for participation by Qatar both at private sector and public sector levels. He further stated that the upcoming visit of His Highness the Emir of Qatar to Sri Lanka would provide an ideal launching pad for such opportunities. The Prime Minister was of the view that trade chambers in both countries could play an important role in this exercise.”