Cairn’s business model is to create, add and realise value for stakeholders through the exploration, development and production of oil and gas within a self-funding business model. The cash flow from production assets funds exploration, appraisal and development activity.
Cairn creates value by identifying assets it can add value to through exploration activity including seismic surveying and drilling. If successful, exploration activity can create material value.
We hold emerging acreage in Senegal, Mexico, Norway, Israel and an entry option to Mauritania; frontier acreage in Suriname, Côte d’Ivoire, Nicaragua and Republic of Ireland; and mature acreage in the UK and Norway.
Cairn adds value by progressing discoveries through the appraisal and development stages or acquiring new assets at this stage in the oil and gas life cycle.
We hold interests in the SNE (Senegal) and Nova (Norway) development projects. Both were exploration assets which we have progressed into development planning.
Cairn realises value by progressing development assets through to production and cash flow, and through asset sales. Proceeds are reinvested in the business to fund exploration and development activity or returned to shareholders.
We hold non-operated interests in two production assets in the North Sea, Catcher and Kraken, which delivered first oil in 2017.