Cairn’s strategy is to deliver value for stakeholders by building and maintaining a balanced portfolio of exploration, development and production assets.
To maximise value, exploration is focused on frontier and emerging basins acreage from which the greatest value can be created. Cairn is currently focused on growing its Senegal resource base, and on progressing its North Sea developments to first oil and cash flow which is targeted in 2017.
Frontier and emerging basin exploration acreage offshore Senegal, Morocco, the Republic of Ireland, Norway and Malta; mature exploration acreage in the UK and Norway.
Non-operated interest in two development projects in the North Sea (Kraken and Catcher).
Kraken and Catcher, two of the largest UK North Sea development projects, are targeting production in 2017.
Annual Key Performance Indicators (KPIs) identify the Company's strategic objectives and how they can be met, enabling the Company to measure its delivery of strategy.
2017 strategic objectives
Deliver exploration and appraisal success
Purpose: Grow the resources and reserves
Purpose: Active portfolio management and acreage optiminsation
Deliver operational excellence
Purpose: In all 2016 activities
Maintain licence to operate
Purpose: Deliver value in safe, secure, environmentally and socially responsible manner
Deliver a sustainable business
Purpose: Maintain a self-funding business plan