Malaysia is planning to sign a memorandum of understanding with Sri Lanka regarding the oil and gas sector, reported the Daily News.
Malaysia’s High Commissioner to Sri Lanka Azmi Zainuddin said the MoU could help the Sri Lankan Petroleum Resources Development Secretariat to formalise business and investment opportunities with Malaysian firms.
“We recognise the potential that Malaysian oil and gas companies could offer Sri Lankan companies in this sector.
"Malaysian oil and gas companies have built their capabilities, resources, knowledge and relationships with business partners and vendors over several decades, and may help their Sri Lankan counterparts to significantly shorten their own learning cycle.”
Saliya Wickramasuriya, Director General of the PRDS said,
“Malaysia has demonstrated that their home grown companies have the capabilities to move out from their domestic markets and to venture into the international arena, where they are now credible and reputable in the oil and gas sector.
"We expect Sri Lankan companies to one day do the same.”
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