Cairn India gets Sri Lanka exploration licence
Cairn India, a unit of Britain's Cairn Energy Plc, said on Thursday it had been awarded a licence by the government of Sri Lanka to explore for oil and gas in the Mannar Basin.
The offshore block SL 2007-01-001 covers about 3,400 sq km (1,300 sq mile) in water depths of 200-1,800 metres, it said in a statement. The petroleum resources agreement for the block will be signed in due course, it said.
Ahead of the news, shares in Cairn India had ended up 0.7 percent at 263.95 rupees in a Mumbai market that rose 1.6 percent.
Extracted from,
http://economictimes.indiatimes.com
The offshore block SL 2007-01-001 covers about 3,400 sq km (1,300 sq mile) in water depths of 200-1,800 metres, it said in a statement. The petroleum resources agreement for the block will be signed in due course, it said.
Ahead of the news, shares in Cairn India had ended up 0.7 percent at 263.95 rupees in a Mumbai market that rose 1.6 percent.
Extracted from,
http://economictimes.indiatimes.com
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