Cairn strikes gas for the second time in Mannar Basin

14 Nov 2011 - {{hitsCtrl.values.hits}}

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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Cairn strikes gas for the second time in Mannar Basin

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