The 2017 Group KPIs below were set by the Board in December 2016.
Deliver exploration and appraisal success
Purpose Grow the resources and reserves base to provide a basis for future growth
|Safely, cost-effectively and successfully drill, evaluate and flow test
appraisal wells on the SNE field in Senegal to allow preparation of
the Evaluation Report and update our estimate of resources and
capital required to develop the field in a timely manner.
discovery or addition
hydrocarbons in 2017
|Efficiently discover commercial quantities of hydrocarbons through
maturation and drilling of select exploration and appraisal wells
across the portfolio.
Measured by: new commercial discoveries based on 2C resources
found; cumulative net volumes found versus Group target; and
finding efficiency expressed in US$/bbl versus industry benchmarks.
Purpose Active portfolio management and acreage optimisation
Develop an inventory and timeline of exploration and appraisal opportunities which meet Cairn’s technical and commercial criteria.
Measured by increasing the prospect inventory by securing or maturing new independent opportunities from within or outside our portfolio.
Deliver operational excellence
Purpose Deliver operational excellence in all 2017 activities
|Successfully complete operated and non-operated 2017 work programme||Successfully progress our development and production projects against key milestones including, as appropriate, capex, opex and sales volume targets.|
Maintain licence to operate
Purpose Deliver value in a safe, secure and environmentally and socially responsible manner
|Deliver activities with a focus on the safety of people and the environment||
Achieve leading HSSE indicators linked to four categories within the Group’s Corporate Responsibility Management System (Business
Achieve lagging HSSE indicators linked to the International Association of Oil & Gas Producers (IOGP) targets and guidelines.
Investing in People and Systems.
Deliver a sustainable business
Purpose Maintain a self funding business plan
|Manage balance sheet strength||
Develop and implement a funding strategy that allows a value-generative plan to be executed and ensures a minimum headroom cushion from existing sources of funding is maintained.
Make tangible progress under the UK-India bilateral treaty arbitration.