Cairn, Govt. talking commercial terms

Thursday, 25 July 2013 01:40 - - {{hitsCtrl.values.hits}}

Cairn India revealed yesterday that discussions are on with the Sri Lankan Government regarding commercial terms and gas pricing, following successful discoveries made in the Mannar basin. Last year, Cairn made two gas discoveries in the block, out of the four exploration wells drilled under phase I and II. “The company continues to consider appraisal options for the gas discoveries made and for continuing into exploration in phase III. Monetisation of the existing discoveries continues to be evaluated under various development and commercial scenarios. Discussions with the Government of Sri Lanka regarding commercial terms and gas pricing are progressing,” Cairn India said in a note accompanying the financial results for the quarter ended 30 June 2013.

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