About us

Key performance indicators

Cairn has both financial and non-financial annual Key Performance Indicators (KPIs) in place which are used to monitor progress in delivering our strategy. These indicators identify our strategic objectives and how they can be met.

The table below shows our 2018 KPIs.


Strategic objective:

Deliver exploration and appraisal success
Purpose 2018 KPI
Mature prospects to drill ready status, secure funds and JV support for drilling and execute exploration drilling to deliver potentially commercial volumes

Mature six or more prospects with all internal reviews completed.

Drill four or more exploration wells before year end 2018.

Efficiently discover commercial quantities of hydrocarbons in line with pre-drill estimates at an attractive Group finding efficiency rate.


Strategic objective:

Portfolio management
Purpose 2018 KPI
Portfolio optimisation and replenishment

Secure two or more new exploration opportunities that meet corporate hurdles and offer exploration drilling within five years.  Measured against tests of control, commercial robustness and materiality.

 


Strategic objective:

Mature developments
Purpose 2018 KPI

Progress Senegal and Nova development projects

Mature the SNE Senegal development and funding plans for presentation to the Government of Senegal.

  • Timely submission of the SNE Area Evaluation Report, Exploitation Plan and associated Environmental and Social Impact Assessment.
  • Approval of the Exploitation Plan and associated Exploitation Area by the end of the PSC and finalisation and approval of joint venture financing plan

Mature the Nova development project in Norway to Final Investment Decision.

  • Submission of Plan of Development to Norwegian authorities in H1 2018 and all internal approvals in place to complete a Final Investment Decision and approve the Operator entering into acceptable contractual commitments on behalf of the joint venture during 2018.

 


Strategic objective:

Deliver operational excellence
Purpose 2018 KPI
Maximise revenues through efficient operations

Deliver target production volumes, operating costs and crude values from Kraken and Catcher at pre-determined levels.


Strategic objective:

Maintain licence to operate
Purpose 2018 KPI

Deliver value in a safe, secure and environmentally and socially responsible manner

Demonstrate clear progress and achieve defined milestones in relation to HSSE / CR objectives, split into four key categories (Business Relationships, Society and Communities, People and the Environment).

Achieve lagging HSSE indicators set in line with IOGP targets and guidelines.


Strategic objective:

Deliver a sustainable business
Purpose 2018 KPI
Manage balance sheet strength

Develop and implement a funding strategy that ensures that an executable funding plan is developed and that a minimum headroom cushion from existing sources of funding is maintained.

Success in the action under the UK – India bilateral treaty arbitration and progress achieved in recovery of any amounts awarded by the tribunal.