Cairn India is reportedly likely to get another exploratory block in Mannar Basin of Sri Lanka. The block M5 would be awarded to the company by March 2014.
The company is also seeking extension of the Ravva production sharing contract, which will expire in 2019. The Ravva field is significantly larger and has EOR potential. The field could go beyond 2019 if the government agrees to extend the PSC.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boepd in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.
