A Canadian venture NXT Energy Solutions recently announced that a formal proposal has been submitted to the Petroleum Resource Development Secretariat (PRDS) of Sri Lanka by its representative Shine Quests FZC.
The proposal means Sri Lanka will have a multi-client survey data of the Mannar basin.
In a communication issued on September 15, the company said that a key part of Project SHINE will be the use of the Stress Field Detection (SFD) technology from NXT Energy Solutions that will provide a unique data set to help Sri Lanka’s ambition to realize potential new hydrocarbon revenues much sooner than using conventional methods alone.
“The fact that oil and gas companies have committed to pre-funding the proposed survey is indicative of positive sentiment towards the hydrocarbon potential of Sri Lanka and we hope to translate this to higher bid activity during our next licensing around,” the statement said quoting Sri Lanka’s PRDS Director General Saliya Wickramasuriya.
George Liszicasz, President and CEO of NXT said that they are very excited to work with Shine Quest FZC and PRDS on this important project for the Sri Lankan hydrocarbon industry.
“We are looking forward to a positive response to Shine Quests’ proposal from the Sri Lankan Government which will be for the largest SFD survey ever undertaken. We hope to start our SFD program before the end of fourth quarter” Liszicasz said.
NXT Energy is a Calgary-based company whose proprietary Stress Field Detection survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for oil and gas traps and oil and gas reservoirs. NXT Energy provides its clients with an effective and reliable method to reduce time, costs and risks related to oil and gas exploration.