Sri Lanka calls for oil tender after Cairn India pullout
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Colombo
SRI Lanka will issue a fresh international tender for offshore oil and gas blocks after billionaire Anil Agarwal's Cairn India Ltd relinquished its exploration rights in the South Asian island.
Cairn will be "departing in a couple of weeks" after coming to an agreement with the Sri Lankan government, Petroleum Minister Chandima Weerakkody said in an interview on Monday. The island nation will keep Cairn's seismic study, worth about US$300 million, and won't charge it any penalty for pulling out, he said.
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