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* Cairn to begin second phase of oil exploration in Sri Lanka next month
Wed, Jan 30, 2013, 01:06 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 30, Colombo: Following the successful completion of the first phase of oil exploration in Sri Lanka's Mannar basin, Cairn India, has announced that it will begin the second phase next month.

Cairn India in its recently released 2012 Third Quarter Financial Results statement said the drilling of the phase 2 exploration well in the offshore SL 2007-01-001 block is advanced by a quarter.

The company said it has brought forward their offshore exploration drilling from June to mid-February and the rig for the drilling has been secured and is already on its way.

According to Cairn India, following acquisition and interpretation of 600 sq km 3D seismic data during phase 2 exploration period in Block SL 2007-01-001, spud was planned by middle of 2013.

However, due to early rig availability and excellent logistical preparations, the spud date is now advanced by a quarter, Cairn India informed.

The preparation for drilling activity is now complete with a rig being secured from Transocean and drilling of a fourth exploration well is planned in February.

Cairn Lanka, the wholly-owned subsidiary of Cairn India will commence drilling a fourth exploratory well 21km off the Kalpitiya coast on February 01, 2013, Sunil Bharati, Cairn India's head of corporate affairs and communications has told the The Island.

In Phase One Cairn successfully discovered two successive gas and condensate deposits in the wells CLPLDorado-91H/1z well and, the CLPL-Barracuda-1G/1 well in the offshore Block SL 2007-01-001 in the Mannar Basin of Sri Lanka.

The third well, CLPL-Dorado North 1-82K/1 as been plugged and abandoned as a dry hole on 14th December, 2011.

The SL 2007-01-001, located in the Gulf of Mannar with water depths ranging from 400 to 1,900m, was awarded to Cairn Lanka in the bid round held in 2008. The Company holds a 100% participating interest in the block.

** Related Story :: Cairn to begin second phase of oil exploration in Sri Lanka in first quarter of 2013



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