Sri Lanka is estimated to have up to three trillion cubic feet of natural gas in its offshore reserves, according to an interview published by The Sunday Morning.

Quoting Petroleum Development Authority of Sri Lanka Chairman Saliya Wickramasuriya, the report said the country also has the potential for “several billion barrels” of crude oil beneath its seabed within territorial waters and the Exclusive Economic Zone.

The estimates are based on basin modelling and seismic data gathered over recent years, which have improved understanding of Sri Lanka’s offshore resource potential.

However, the report noted that commercial extraction is unlikely to begin in the immediate future, as the process of attracting investors and issuing exploration licences remains at an early stage.

Sri Lanka has recently introduced a new regulatory framework, including the Petroleum Resources Act of 2021, aimed at improving transparency and building investor confidence in offshore exploration.

Under the “Explore Sri Lanka” programme, authorities have shifted from traditional bid rounds to an open licensing system, dividing offshore areas into smaller blocks to encourage wider participation by international energy companies.

Sri Lanka has been ranked among the least happy countries globally, with the island nation’s rankling dropping one place to 134th, according to the World Happiness Report 2026, published on Thursday.

With an average life evaluation score of 4.013, Sri Lanka is only ahead of 13 other countries in the index, including nations such as Ethiopia, Tanzania, Lebanon, Yemen and Afghanistan.

In comparison, Sri Lanka was ranked 133rd in 2025 and 128th in 2024 while the country was placed 112th and 127th in 2023 and 2022, respectively.

Every year, the World Happiness Report reveals where people feel most satisfied with their lives, and where they don’t.

The report ranks 147 countries using data from the Gallup World Poll, where respondents score their lives on a scale from 0 to 10, known as the Cantril Ladder. The rankings are based on a three-year average from 2023 to 2025, offering a more stable snapshot of global well-being.

Amid rising geopolitical tensions, 79 countries recorded significant gains in happiness levels from the 2006–2010 base period to 2023–2025.

Finland remains the happiest country in the world in 2026, holding the top spot for the ninth consecutive year.

The Finnish population reported an average life evaluation score of 7.764 out of 10 this year, up 0.375 points from last year.

Iranian Foreign Minister Seyed Abbas Araghchi held a telephone conversation with Sri Lanka’s Foreign Minister Vijitha Herath on Friday evening to discuss regional developments and bilateral relations.

During the call, Araghchi briefed the Sri Lankan minister on the latest situation following what Iran described as military aggression by the United States and Israel against the country.

The Iranian foreign minister also expressed appreciation to the Sri Lankan government for its efforts in assisting the crew of the Iranian warship Dena following the March 4 attack.

He thanked Sri Lanka for helping rescue crew members and for facilitating the transfer of the bodies of 84 sailors killed in the incident back to their homeland.