Cairn India find more oil

Apr 05, 2012 (LBO) – Cairn India Limited (CIL) said it has made a second oil discovery in a through its fully owned unit Cairn Energy India Pty Limited (CEIL) in an exploration block in Krishna-Godavari Basin on the east coast of India. CEIL is the operator of the block owning 24 percent of the blodk while CIL holds 25 percent and joint venture partner, state-run ONGC holing 51 percent.

The oil was discovered in its ‘Nagayalanka-SE-1’ well.

“Further appraisal will be required to establish the commerciality of the Nagayalanka-SE discovery,” the firm said in a statement.

Cairn has also struck oil in Sri Lanka’s Mannar basin.