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Monday, September 15, 2008 - 4.55 GMT
BOI - Cairn India inks investment commitment for Mannar Basin exploration

 
The Board of Investment (BOI) and Cairn Lanka (Private) Limited, has entered into an agreement yesterday for a commitment of an initial investment of more than USD 110 million towards the exploration of hydrocarbons

The programme of work will be in the Block SL2007-01-001 which is offshore North West Sri Lanka and covers approximately3,000 square Kilometres (km2 ) in water depths of 200 metres to 1800metres in the Mannar basin.

The signing for the exploration license to explore for oil and natural gas in the Mannar Basin took place, earlier in July this year, in Colombo.

The Block SL 2007-01-001 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 km2 of 3D seismic and drill three wells in the initial three years of the eight year exploration period.



 
 
   
   
   
   

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Last modified: July 22, 2009.

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