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BOI Statement Regarding Oil Refinery Project in Hambantota

We refer to the recent Reuters news report with regard to the above project . We are aware that there is no agreement that has been signed between Oman’s Ministry of Oil and Gas and Silver Park International PTE Ltd with regard to equity arrangements of the project. However, we are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30%, subject to reaching agreement between the parties. Furthermore, we are aware that Oman Trading International is willing to supply the entire feedstock requirement of the project as well as do the marketing for the products, upon reaching mutually agreed terms. The investor – Silver Park International PTE Ltd – has conveyed to the Board of Investment their full confidence in implementing the project.

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