UK and Norway

Cairn has built a strong position in the UK and Norway that provides a platform for mature basin exploration and future sustainable cash flow from development projects.

2017

First oil targeted in 2017 from development projects

~25,500 boepd

targeted peak production net to Cairn

Summary of interest

  Country Licence/
Block
Operator Cairn
Interest
(%)
  Norway PL159C; block 6507/3 Statoil Petroleum AS 18%
  Norway PL159E; block 6507/3a Statoil Petroleum AS 18%
  Norway PL226/PL226B; blocks 722/1, 2 & 3 ENI Norge AS 10%
  Norway PL248C; blocks 35/11g, 35/11h Statoil Petroleum AS 20%
  Norway PL378; block 35/12a Wintershall Norge AS 20%
  Norway PL418; blocks 35/8f, 35/9e Wintershall Norge AS 20%
  Norway PL630; blocks 35/10b, 31/1b Statoil Petroleum AS 20%
  Norway PL682; block 35/9b Bayerngas Norge AS 30%
  Norway PL747; block 35/8 Bayerngas Norge AS 40%
  Norway PL747b; block 35/8 Bayerngas Norge AS 40%
  Norway PL748; blocks 34/2, 34/5 Det Norske Oljeselskap ASA 20%
  Norway PL758; blocks 6508/1, 6608/10, 6608/11 Lundin Norge AS 35%
  Norway PL787; block 35/9 Bayerngas Norge AS 30%
  Norway PL788; blocks 34/9, 35/4, 35/5, 35/7, 35/8 & 35/1c Wintershall Norge AS 50%
  Norway PL790; blocks 34/2, 34/5 Det Norske Oljeselskap ASA 25%
  Norway PL800; blocks 6508/1, 6508/2 Lundin Norge AS 35%
  Norway PL828; block 36/4 Statoil Petroleum AS 40%
  Norway PL840; blocks 6608/7, 8 Statoil Petroleum AS 20%
  Norway PL842; blocks 6608/10, 1, 12 Capricorn Norge AS 40%
  Norway PL844; blocks 6609/5, 6, 8, 9 DONG E&P Norge AS 20%
  Norway PL853; block 7322/9 Lundin Norge AS 40%
  Norway PL854; blocks 7322/3, 7323/1 Statoil Petroleum AS 40%
  Norway PL856; block 7228/11 Capricorn Norge AS 75%
  UK PEDL203; block SK/65b Egdon 18.33%
  UK PEDL118; blocks SK/65c, SK/66d Egdon 18.33%
  UK PEDL005; blocks TF/38b (PEDL005-2) and TF/49b (PEDL005-3) Egdon 10%
  UK PEDL339; blocks TF/38c ALL Egdon 10%
  UK P1077; block 9/2b Enquest 29.5%
  UK P2148; block 9/2c Enquest 29.5%
  UK P1430; block 28/9a Premier 20%
  UK P1995; blocks 210/25b, 211/21b, 211/26b TAQA 50%
  UK P2070; block 28/4a Premier 36%
  UK P2077; block 28/8a Premier 36%
  UK P1976; blocks 8/5, 9/1b Enquest 40%
  UK P2149; block 9/6 Cairn 100%
  UK P2198; blocks 210/29b, 210/30c Taqa 50%
  UK P2184; blocks 22/18c, 22/19d Premier 25%

Licence list as at 28 July 2016

Overview

UK and Norway developments

Cairn has built a strong position in the UK and Norway by acquiring exploration, appraisal and development assets and participating in licence rounds. The mature basins of the North Sea provide balance to the broader exploration portfolio and will deliver free cash flow to sustain future exploration. Cairn now has 22 licenses in Norway including two operated licenses and 15 licences in the UK including one as operator.

Kraken and Catcher, two of the largest ongoing development projects in the UK North Sea are the Group’s core development projects and a third, the Skarfjell discovery in Norway, is in the early stages of development planning. Kraken and Catcher are targeting first oil in 2017 with targeted peak production net to Cairn of ~25,500 boepd (barrels of oil equivalent per day).