Total (TOT) may win a contract from Sri Lanka's government to study the prospect of deepwater...

|By:, SA News Editor

Total (TOT) may win a contract from Sri Lanka's government to study the prospect of deepwater offshore oil and natural gas deposits, Bloomberg reports. Eni (E) also has expressed strong interest in the blocks; talks are underway with Exxon (XOM) and India's ONGC. Sri Lanka's Mannar basin is estimated to hold 1B barrels of oil, equal to ~18% of India’s proved oil reserves.