Cairn India bids for one block in Sri Lanka; OVL skips.

Cairn India Ltd. has bid for one oil and gas exploration block in Sri Lanka while ONGC Videsh did not bid for any of the 13 blocks on offer in that country mainly due to poor prospectivity.

Bids for 13 offshore exploration blocks offered in the Sri Lankan Licensing Round, only the second in its history, closed on November 29.

Sri Lanka received just three bids at the close with Cairn being the only major explorer bidding, industry sources said.



The Economic Times