Cairn strikes gas for the second time in Mannar Basin

14 November 2011 09:46 am - 13 - {{hitsCtrl.values.hits}}

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A second natural gas deposit with hydrocarbon potential has been discovered by Cairn Lanka (Pvt) Ltd in the second exploration well in the Mannar Basin according to a release from the Petroleum Resources Development Secretariat.

Further drilling is required to assess the commercial viability of the second well, named Barracuda, the statement said.

It further noted that both wells are situated in Block SL 2007-01-001; the first block of the Mannar Basin which was tendered to Cairn, with the second well at a depth of 4700 meters and 38 km from the first well, named Dorado.

The drillship, Chikyu, will be moving to the location of the third well shortly in order to begin further exploratory drilling.

Cairn had informed President Mahinda Rajapakse of favorable and strong indications of the presence of oil in the region early last month after its initial discovery at the Dorado well.

Shares in Cairn shot up 1.5% at the time on news of the discovery while the government has been in discussions over further exploration of the Mannar Basin with Russian oil giant, Gazprom and Vietnamese state owned PetroVietnam.

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Comments - 13

Percy Monday, 14 November 2011 09:59 AM

Commercially recoverable and Commercially available must be considered two different situations.

gogas Monday, 14 November 2011 12:39 PM

We are rich! We are rich!

Fairose Monday, 14 November 2011 01:10 PM

Any Elections at the hind-sight because such discoveries are made just before or during election campaigns. I hope this time its for real. We have suffered a lot we need some respite. God Bless our country.

Hiraz Monday, 14 November 2011 01:26 PM

Question is when will tese projects execute?

Imran Hussein Monday, 14 November 2011 03:33 PM

When is the budget debate?

AMG Monday, 14 November 2011 04:12 PM

Hurry up guys, i am still dreaming!

J P Rajan Monday, 14 November 2011 05:26 PM

The government will take this under the Expropriation Bill!!

Kalum Monday, 14 November 2011 06:25 PM

Just about now is the time the US would be hatching a plan for a regime change or some other means of controlling of the country.They might even be convinced that we possess weapons of mass destruction.

WranglerArctic Tuesday, 15 November 2011 02:55 AM

right.. get ready for US/NATO invasions....

Jodie Windenburg Tuesday, 15 November 2011 06:09 AM

How many locations were found for the past 20 years? Where is the crude oil - that's what we would like to see...

sanath de silva Tuesday, 15 November 2011 06:15 AM

hope it is true

Ragu Tuesday, 15 November 2011 06:31 AM

Is it rellay a discovery or just to cover Commonwealth debacle?

Don Quixote Tuesday, 15 November 2011 07:39 AM

Must keep the people dreaming after all the commonwealth games is now GONE !

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Cairn strikes gas for the second time in Mannar Basin

Comments - 13

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