Cairn oil exploration most successful op in recent times

Shi raj i v SI RI MANE

The Sri Lankan oil exploration process undertaken by Cairn Lanka is one of the most
successful operations in recent times in the region. Sri Lankas dream of its own
hydrocarbon reserves became true after the back to back discovery of natural gas in
two wells in the Mannar basin by Cairn Lanka.
Cairn Lanka is a 100 percent subsidiary of Asias fastest growing E&P Company. Cairn
India, has notified the Sri Lankan government of its intention to enter the second phase
of exploration.
The Indian company had invested US $ 78 million for the process in 2011. Further
investments are expected from Cairn Lanka, as the company plans to enter the second
phase of exploration.
This announcement was made following the successful completion of the first phase of
exploration, analysts said.
Cairn India is responsible for the delivery of significant domestic crude production from
its operated assets across India.
With more than 40 discoveries to its credit date, the company has brought substantial
benefits to India and to the states of Rajasthan, Andhra Pradesh and Gujarat.
Three out of seven landmark discoveries in India in the last decade have been
attributed to Cairn India.
Cairn Indias 100 percent subsidiary Cairn Lanka is exploring in the Mannar basin. Cairn
Lankas successful drilling programme, the first in Sri Lanka in 30 years - has
established a working petroleum system in the frontier Mannar Basin. It has put Sri
Lanka on the world hydrocarbon map.
Cairn Lanka (Private) Limited, a wholly owned subsidiary of Cairn India
Limited, has successfully completed the first phase of the exploration campaign in Sri
Lanka Block SL-2007-01-001. The exploration programme involved the acquisition,
processing and interpretation of 1,753 sq km of 3D seismic data and a three well deep
water drilling programme.
The state - of - the - art fifth generation drillship Chikyu, from Japan was mobilised for
the exploratory drilling campaign in the SL 2007-01-001 block that commenced in
August 2011. Prior to initiating the drilling campaign, Cairn Lanka had appointed CGG
Veritas AS for collating the seismic data with the help of seismic vessel SR/V Viking II.
Cairn Lanka has completed the seismic programme which exceeded the phase I
commitment by about 20 percent and in the drilling programme the company exceeded
the drilling depth commitment by 50 percent.
The operations were conducted safely, in accordance with the highest global standards,
within schedule, budget and in compliance with Sri Lankan regulations.
The support of the government and an effective partnership with the Sri Lanka
authorities in Sri Lankan, were instrumental in ensuring the successful completion of
the first phase exploration programme.
Cairn India Limited, the parent company of Cairn Lanka, is listed on the Bombay Stock
Exchange and the National Stock Exchange of India since 2007.
Cairn India is headquartered in Gurgaon in the National Capital Region, with operational
offices in Tamil Nadu, Gujarat, Andhra Pradesh, Rajasthan and Sri Lanka.
According to Platts, Cairn India is Asias fastest growing and worlds fourth fastest
growing hydrocarbon exploration and production company. The average daily gross
operated production was 149,103 boe in FY2011. The company sells its oil to major
refineries in India and its gas to both PSU and private buyers.
The company has a world-class resource base, with interest in nine blocks in India and
one in Sri Lanka.
Cairn Indias resource base is located in three strategically focused areas, namely, one
block in Rajasthan, three on the west coast of India and six on the east coast of India,
including one in Sri Lanka.
Vietnam eyes oil exploration in Sri Lanka
Oct 15, 2011 (LBO) - State-run Vietnam National Oil and Gas group (PetroVietnam) is seeking an exploration block in
Sri Lanka following a deal signed during a visit of Vietnam President Truong Tan Sang, an official said.
Pham Nhu Khanh, vice president of PetroVietnam Exploration Production Corporation, a unit of the PetroVietnam
group told LBO that a technical team is expected to arrive in Sri lanka for further discussions.
On Thursday Vietnam's industry minsitry and Sri Lanka's president's office signed an agreement on oil co-operation.
Sri Lanka's petroleum exploration resource agency operates under the president's office.
Khanh said the agreement laid basis for co-operation in oil exploration in principle and Vietnam hoped to study data
and negotiate further with Sri Lanka on an off-shore oil exploration block.
A unit of Cairn Energy found a gas deposit off Sri Lanka's coast last month after buying an exploration block on open
tender. Further drilling was needed to find the commercial viability of the find, the Cairn Lanka, said.
A PetroVietnam team first came to Sri Lanka two years ago.