NEW DELHI: India's state-run Oil and Natural Gas Crop has turned down an offer from Sri Lanka to operate a block in the Mannar basin due to the size of a bonus request and poor prospects, its chairman said on Friday.
Sri Lanka earlier this year offered Block 1 on a nomination basis to the Indian firm.
"We did not find the prospectivity. Moreover, they were asking for a fantastic signature bonus for that. So we are not interested," R. S. Sharma told reporters on the sidelines of an industry seminar.
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