Cairn India gets exploration licence in Sri Lanka

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New Delhi, Jul 7 (UNI) Cairn India, a subsidiary of the UK-based Cairn Energy, today said it has got a licence for exploration of oil and natural gas in Sri Lanka's Mannar Basin.

A Petroleum Resources agreement was signed today in Colombo between Cairn India and the Sri Lankan government for a licence for exploration, a company statement said.

The Block SL 2007-01-001, which is offshore North West Sri Lanka and covers about 3,000 sq km in water depths of 200-1,800 metres, was awarded to Cairn India in the recent Sri Lanka bid round.

The work programme includes proposals to acquire 5,000 km of 2D, 1,000 sq km of 3D seismic and drill three wells in the initial three years of the eight-year exploration period.

Cairn Lanka (Pvt) Ltd, a wholly-owned subsidiary of Cairn India, will hold a 100 per cent participating interest in the block.

The agreement was signed between Minister for Petroleum and Petroleum Development Resources AHM Fowzie from the Sri Lanka government and Indrajit Banerjee, Chief Financial Officer and Executive Director of Cairn India.


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