Key facts

  • One of Europe’s leading oil and gas exploration and development companies
  • Chief Executive Officer, Simon Thomson; CFO, James Smith
  • Headquarters in Edinburgh, with operational offices in London (UK), Stavanger (Norway), Madrid (Spain) and Dakar (Senegal)
  • Listed on the London Stock Exchange in 1988
  • Focused on exploration opportunities with transformational potential within a balanced portfolio of lower risk exploration and development assets
  • Returned a total of $4.5 billion to shareholders in the last five years
  • Focused on three geographic regions; Atlantic Margin, Mediterranean and UK & Norway
  • Assets in Greenland, Spain, Morocco, UK, Norway, Republic of Ireland, Senegal, Mauritania, Malta, Northern Ireland and France
  • Participant in the Extractive Industries Transparency Initiative (EITI) which aims to strengthen governance by improving transparency and accountability
  • Made a major discovery in Rajasthan, India in 2004; the Mangala field was the largest onshore oil find in India for 25 years
  • Retains a ~10% shareholding in Cairn India Limited
  • Cairn India Limited has the potential to account for more than 30% of India’s oil production

Key activity in 2013

  • Entered into a programme to repurchase up to US$300m of ordinary shares in the Company, to be reviewed quarterly
  • Acquired acreage in three blocks offshore Senegal, partnering with ConocoPhilips and holding a 40% operated interest
  • Acreage swaps to optimise the North Sea exploration portfolio
  • Field development plan for Kraken approved; Catcher field development plan on track
  • Seven wells drilled in 2013 in UK and Norway
  • Frontier exploration drilling programme commenced in 2013, comprising two operated exploration wells offshore Morocco (Q3 2013/H1 2014), two proposed operated exploration wells offshore Senegal (2014) and one proposed operated appraisal well offshore West of Republic of Ireland (2014)
  • Farm-in agreement, with Chariot Oil & Gas, for 35% non-operated interest in one exploration block offshore Mauritania
  • Farm-in agreement with Kosmos Energy for 20% non-operated working interest in one exploration block offshore Morocco; drilling is scheduled for H2 2014

Key activity in 2012

  • Returned ~$3.5 billion to shareholders
  • Acquired Agora Oil & Gas AS and Nautical Petroleum plc, providing mature basin exploration and development interests in the UK and Norwegian North seas
  • Participated, alongside its partners, in nine wells in the UK and Norwegian North Seas
  • Entered into an Exploration Study Agreement with the Government of Malta
  • Acquired exploration acreage offshore Morocco’s Atlantic coast
  • Farmed out a 30.625% interest in the Pitu block offshore Greenland to Statoil
  • Last updated 15 April 2014
  • Returned $3.5 billion of cash to shareholders in 2012 following the sale of a 40% shareholding in Cairn India Limited to Vedanta Resources plc in 2011

Performance

US$1.1 billion

Net cash at 30 June 2014

62 licences

In 11 countries in frontier and mature basins at 31 December 2013

7 Wells

Targeted in 2014