Cairn Energy Plc

Cairn Energy PLC ('Cairn') is one of Europe's leading independent oil and gas exploration and production companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world. The company historically focused its activities on the geographic region of South Asia where it operated for more than 20 years. Cairn’s strategy is to create, add and realise value for shareholders from a balanced portfolio of exploration, development and production assets. Our exploration portfolio is primarily in frontier and emerging basins in West Africa and the North Atlantic which offer the greatest value potential, funded from producing assets in the North Sea along with balance sheet strength. We continue to make excellent progress on our strategic objectives and are well-positioned to deliver ongoing success. We have created a strong platform for future growth with active positions in various geographies providing significant acreage of both technical and commercial value. A key focus is Senegal where eleven wells have been drilled in three years. Following two basin opening discoveries, SNE-1 and FAN-1, in 2014 and approval of an extensive appraisal plan by the Government of Senegal in 2015, Cairn and its partners successfully completed a further four exploration and appraisal wells ahead of schedule and under budget in 2016. The third phase of drilling took place in 2017, completing the appraisal activity for the development of SNE. The JV has passed the development concept for the SNE field and is aligned on a phased and cost effective development plan. In addition to Senegal, Cairn has key interests offering the potential for material discoveries and high prospectivity with new licences recently acquired in Norway, Mexico, Suriname and the UK, with drilling expected in 2018-2020. In the UK and Norway, Cairn has high quality assets; the Kraken and Catcher developments are two of the largest development projects in the UK North Sea. Alongside the planned Nova development in Norway, these three projects are a key part of Cairn’s strategy to build steady future cash flows to sustain future exploration. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway, Senegal and Mexico.