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Cairn Withdraw from Oil / Gas Exploration in Mannar Basin

Exploiting Sri Lanka's oil and gas reserves | Daily News Online : Sri Lanka's National News: Cairn India announced its withdrawal from natural gas exploration in the Mannar Basin last week, following falling global oil prices. The government is now reportedly holding talks with other oil companies to exploit the gas from the Mannar Basin. The Emir of Qatar, Sheikh Tamim Bin Hamad expressed his government's willingness to support Sri Lanka's oil exploration efforts during his visit in March, which gives the country yet another option in its quest for oil wealth.

Oil exploration in Sri Lanka started in the 1960's and successive generations of politicians have been touting the idea that the discovery of oil is the panacea for all of Sri Lanka's economic ills. We can become rich with little effort and our people will be happy.
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