Reliance on oil hunt in Lanka

Reliance on oil hunt in Lanka

Nevin John / Mumbai March 23, 2006

Island nation reserves estimated at 10-15 mn barrels.

Mukesh Ambani-controlled Reliance Industries is drawing up plans to invest in oil and gas exploration, production and refining in Sri Lanka.

Seismic surveys have indicated that the island nation has potential reserves of 10-15 million barrels in the Gulf of Mannar and the Cauvery basin.

Sources close to the development said a team led by Atul Chandra, president of Reliance Industries