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Cairn to begin drilling for oil in Mannar basin
27 May 2011: Cairn Lanka, a wholly owned subsidiary of Cairn India is to commence drilling for oil in the Mannar basin off Sri Lanka's northwestern coast in August 2011.
Preparatory work for the Sri Lanka frontier exploration drilling campaign in the SL 2007-01-001 block has been completed. A drillship has been contracted with the expected spud date in August 2011.
Cairn India has a total of 10 blocks in its portfolio in three strategically focused areas Sri Lanka is one of them. Cairn Lanka (Private) is a wholly owned subsidiary of Cairn India that holds a 100 per cent participating interest in the Mannar block in Sri Lanka.
Cairn signed the Petroleum Resource Agreement (PRA) with the Sri Lankan Government in July 2008 to explore oil and natural gas in the Mannar Basin with an investment of US$110 million, spread over three years.
Source: Colombopage