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Sri Lanka Oil and Gas Market Update

Main Update Highlights from entire month of June, 2013

Indian Oil Corporation (IOC) and Ceylon Petroleum Corporation (CPC) are set to form a joint
venture (JV) for cooperation in the oil and gas sector. One of the initiatives of the JV could be of supply
of LNG to Sri Lanka by Petronet LNG to feed power plants in that country.

Cairn India Limited said it is currently evaluating the options of converting gas into commercial
use, one and a half years after identifying natural gas in the Sri Lanka’s Mannar Basin.

Petronas is planning to explore for oil and gas off the shores of Sri Lanka, near the Palk Straits
and the Mannar Basin.

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