The Government of Sri Lanka is to purchase the balance 51 percent stake of Shell Gas Lanka from Royal Dutch Shell plc (RDS) for 63 million US dollars, the government's information office said.
The balance 49 percent of the firm is also owned by Sri Lanka's government.
Following the move, RDS or commonly known as Shell - a global oil and gas company headquartered in The Hague, Netherlands will be exiting all of its Asian oil operations.
Shell had originally acquired the firm as part of a privatization drive.
