Cairn India gets oil and gas exploration license from Sri Lanka

MUMBAI (Thomson Financial) - Cairn India Ltd., a unit of Cairn Energy Plc., said it has secured an exploration license over part of the Mannar Basin from the Sri Lankan government.

The offshore block SL 2007-01-001 covers around 3,400 square kilometres across depths of 200-1800 metres, the company said in a statement.

The petroleum resources agreement for the offshore block will be signed in due course, it added.

Ahead of the announcement, Cairn India shares closed 0.7 percent higher at 263.95 rupees on the Bombay Stock Exchange, while the benchmark Sensex closed 1.64 percent higher at 15,769.72.