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Message: <blockquote data-quote="monson" data-source="post: 20450790" data-attributes="member: 30005">French giant Total S.A eyeing oil off East Coast French oil and gas company Total S.A will be the first French investor to explore gas and oil blocks in Sri Lanka if the ongoing geological, technical surveys on two ultra-deep water blocks off the east coast of Sri Lanka become successful.French Ambassador to Sri Lanka Jean-Marine Schuh said Total S.A inked a joint study agreement with the Sri Lankan government to explore for offshore oil and gas in Sri Lanka in February, 2016.Schuh said the size of the two blocks is equivalent to the size of Sri Lanka.The objective of joint study is to explore marginal areas with limited data for hydrocarbon prospectively by conducting geological, geophysical and technical surveys, analyzing and interpreting the acquired data, and ultimately assessing the presence of commercially viable oil and gas.Speaking at the 12th Annual General Meeting of the Sri Lanka-France Business Council, the Ambassador said the French investors are eyeing potential investment opportunities inurban development and smart cities.“We hope French companies will be very much able to contribute to the megalopolis and western region development plan in Sri Lanka,.” the Ambassador said.In 2015, Sri Lanka exported goods worth of US$ 191 million to France while there were imports worth of US $ 116 Million from France to Sri Lanka. Accordingly, in 2015, trade balance between the two countries stands at a sum of US $ 75 million, in favour of Sri Lanka.Sri Lanka’s main exports to France are apparel and clothing, rubber articles, tea and spices.France is sixth largest economy in the world in terms of GDP and is one of the most technologically advanced countries in the world.- <a href="http://www.dailynews.lk/?q=2016/07/22/business/88252" target="_blank">http://www.dailynews.lk/?q=2016/07/22/business/88252</a></blockquote>

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