Published on: January 6, 2022
SRI LANKA OIL TANK DEAL
modafinil online south africa Sri Lanka Cabinet clears oil tank deal with India to jointly develop Trincomalee oil tank farms
About Trincomalee oil field
- The facility, built by the British around World War II as a refueling station, has 99 storage tanks that look like giant wells.
- They have a capacity of 12,000 kilolitres each.
- Eighty-four of those are in the 800-acre Upper Tank Farm (UTF). For a good part of a century now, these tanks have remained unused, shrouded in a forest.
- The Lower Tank Farm (LTF) has 16 tanks, spread across 50 acres.
- A talking point in Indo-Lanka relations since 1987.
- Indian Oil Corporation set up Lanka IOC, its Sri Lankan subsidiary in2003
- The agreement remained dormant for years, until the Sirisena- Wickremesinghe administration tried revisiting it through the 2017 MoU.
Significance of Trincomalee
- Home to 3.7 lakh Muslim, Tamil and Sinhala people and Trincomalee, in Sri Lanka’s post-war years.
- Emerged as a favorite destination for surfers from around the world, gradually transforming with plush resorts and restaurants dotting its coast.
- Potential transit point for international trade routes, particularly drawing India which has known strategic interests there.
- Important counterbalance to the southern Hambantota Port backed substantially by China.