Cairn to invest $110 mln for exploration in Sri Lanka

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New Delhi, Sept 11 (UNI) Cairn India today said its subsidiary has signed a pact with Sri Lanka Board of Investment (BOI) to invest 110 million dollars initially for exploration of hydrocarbons.

The subsidiary firm Cairn Lanka will do the exploration in an offshore block, SL 2007-01-001, North West Sri Lanka that covers about 3,000 square kilometer in water depths of 200 metres to 1800 metres in the Mannar basin.

The block was awarded to Cairn India in the recent Sri Lanka bid round, the company said in a statement.


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