Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Cairn India urges Sri Lanka to maximize benefits from natural gas discoveries made in Mannar Basin
Mon, Apr 28, 2014, 09:58 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 28, Colombo: Cairn India says they are continuing discussions with the Sri Lankan government regarding commercial terms necessary to monetize the discovered gas resources on the block in Mannar Basin.

The Company in its Annual financial report for the period ended 31st March, 2014 said that they in 2013, concluded appraisal and commercial studies to determine the next steps for the gas discoveries made on the block SL 2007-01-001.

Cairn India urged the Sri Lankan policy makers to take a holistic view to maximize benefits from the maiden natural gas discoveries in the Mannar Basin.

The Company said in November 2013 it also participated in Sri Lanka's offshore bidding round for M-5 block, south of their current block in the Mannar Basin which is located in the Gulf of Mannar, situated on the north east shallow continental shelf of Sri Lanka.

Cairn India has a world-class resource base, with interest in seven blocks in India, one in Sri Lanka and one in South Africa.

Cairn made gas discoveries in two of the four exploration wells it was awarded. It successfully discovered two successive gas and condensate deposits in the wells Dorado and Barracuda in the offshore Block SL 2007-01-001 in the Mannar Basin.

The company expects production from the Sri Lanka's offshore gas fields starting as early as 2016.

The Dorado discovery is up for development with first gas officially expected in 2017-18 while Barracuda is being further assessed, according to Cairn. The Company estimates reserves of 74 million barrels of oil equivalent at the two sites.

ColomboPage - Recent 10 Stories
Three missing Sri Lankan fishermen stranded in Dhanushkodi
-- [1 hour and 1 minutes ago]
No room in the country for conflicts based on languages - President
-- [1 hour and 33 minutes ago]
Sri Lankan sailor found dead in ship at Dhamra port in Odisha
-- [2 hours ago]
Rangana Herath to captain Sri Lanka in Zimbabwe
-- [3 hours ago]
Indian Foreign secretary, Sri Lankan President discuss economic cooperation
-- [3 hours ago]
Sri Lanka Navy ship Sagara leaves for joint Coast Guard exercise with India and Maldives
-- [4 hours ago]
National Police Commission to conduct separate investigation into Jaffna University students' deaths
Australian miner assesses mineral sands deposits in Puttalam, Sri Lanka
Indian Foreign Secretary arrives in Sri Lanka with a business delegation
Sri Lanka to set up an international multi intelligence unit to combat illicit drug trade

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.