New study reconfirms presence of oil and gas in the Maldives
A new study has confirmed the presence of oil and gas in the Maldives, but it is not yet clear if fossil fuel extraction is economically viable, Fisheries Minister Mohamed Shainee has said.
02 Aug 2015, 9:00 AM
A new study has confirmed the presence of oil and gas in the Maldives, but it is not yet clear if fossil fuel extraction is economically viable, Fisheries Minister Mohamed Shainee has said.
The geological survey, carried out by a team of scientists at the University of Hamburg, adds to studies done by Elf Aquitaine and Royal Dutch Shell in the 1970s and 1990s, respectively, both of which confirmed the presence of oil and gas, but deemed the venture uneconomical.
Oil exploration is among President Abdulla Yameen’s key campaign pledges and is among the five-mega projects that the government is seeking investments in.
Shainee traveled to Hamburg to receive the study and held a press conference upon his arrival in Malé last night. The study shows locations where gas seeps to the surface, and further studies will be required to assess the volume of reserves, he said.
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
