Published Date:
08 July 2008
CAIRN India is to invest $100 million (£51m) for the first phase of exploration in Sri Lanka's Mannar oil basin.
The subsidiary of Edinburgh-based Cairn Energy yesterday signed an agreement with the government of Sri Lanka covering the exploration of the first of eight oil blocks in the Mannar basin, following a successful bid.
The government says seismic data shows that more than one billion barrels of oil lie under the sea off the north-west coast.
-
Last Updated:
07 July 2008 8:02 PM
-
Source:
The Scotsman
-
Location:
Edinburgh
-
Related Topics:
Cairn Energy
