The Board of Investment of Sri Lanka admitted that no Agreement was signed between Oman's Ministry of Oil and Gas and Silver park InternationalPteLtd with regard to equity arrangements of the Hambantota refinery project.

"However, we are aware that Oman Oil Company has registered its firm intention to participate in equity up to 30%, subject to reaching an agreement between the parties. Furthermore, we are aware that Oman Trading International willing to supply the entire feedstock requirements of the project as well as do the marketing for the products, upon reaching mutually agreed terms," the BOI said in a statement this evening. 

The statement also added that the investor, Silver Park International PTE Limited, has conveyed to the Board of Investment their full confidence in implementing the project.

Oman’s oil ministry on Wednesday denied being part of a $3.85 billion plan to build an oil refinery in Sri Lanka, a day after the Sri Lankan government announced the Arab country’s participation.

Reuters, quoting Sri Lankan government officials, on Tuesday reported that a joint venture between the Oman oil ministry and a Singapore investment vehicle owned by India’s Accord Group had agreed to build the 200,000 barrel per day refinery near Chinese-controlled Hambantota port on the island’s south coast.