Cairn: Operational Update
Wednesday 24 January 2018
Over the last twelve months, Cairn has achieved several strategic milestones and is well positioned to deliver on its strategy in 2018. Both the Kraken and Catcher developments in the UK North Sea have delivered first oil production. In Senegal, Cairn completed a successful third phase of drilling with the joint venture now targeting development approval for the world class SNE field by the end of 2018.
This year, Cairn will begin a sustained drilling campaign in the UK and Norway where Cairn has built an extensive portfolio. They also expect development sanction for the Skarfjell discovery in the first half of the year.
Cairn is funded in respect of all capital commitments with a strong balance sheet and growing production cash flows. They continue actively to assess and pursue new ventures within the context of a balanced exploration and production portfolio. Cairn are excited by the potential of the recently awarded blocks offshore Mexico where they anticipate the start of exploration drilling in 2019.