Cairn Energy To Invest $400 M In Krishna-Godavari Basin

Cairn Energy of the UK is planning to invest $300-400 million in deep sea oil and gas exploration in the Krishna-Godavari basin on the east coast during the next four years.

The investment will be made in the KG-DWN-98/2 block in the basin where the company has made a major gas discovery within one year of starting exploration, Cairn Energy India Pvt Limited executive director Rich Paces told newsmen here today.

Paces said the exploratory well drilled on prospect