Cairn India Plans to Commercialize Lanka Gas Find

Cairn India Limited said it is currently evaluating the options of converting gas into commercial use, one and a half years after identifying natural gas in the Sri Lanka’s Mannar Basin.

“Two gas discoveries were made out of the four exploration wells drilled; options to monetize the discovered gas resources are under evaluation,” said director and interim CEO, Cairn India Limited, P. Elango, Daily Mirror Lanka reported.

Company's phase II explorations were abandoned in February 2013, since the drilling encountered multiple thick high quality reservoir sands, which were not of hydrocarbon bearing.

However the newspaper report said that Cairn plans to enter the Phase-III explorations. The CEO said that the results of the well are analysed and finlaization of forward program the options for appraisal of the existing two discoveries and entering exploration phase-III.