Cairn’s exploration focus is on frontier and emerging basins acreage, from which the greatest value can be created. We hold frontier and emerging basin exploration acreage offshore Senegal, Mexico, Norway, the Republic of Ireland and Western Sahara, and mature exploration acreage in the UK and Norway.
Our frontier exploration focus has been on acreage along the Atlantic Margin, which was formed millions of years ago when the supercontinent ‘Pangaea’ broke up to form the continents as they are known today, and provides a range of underexplored and mature hydrocarbon basins with common geology and promising opportunities for organic growth.
Atlantic Margin drilling programme
In 2012 Cairn embarked upon an exploration drilling programme along the Atlantic Margin, including drilling offshore Morocco and Senegal. This resulted in two oil discoveries in Senegal in 2014, one of which was the largest global oil discovery of 2014. We completed our third drilling programme in Senegal in 2017, which focused on additional exploration and appraisal activity to prove and potentially increase this already significant resource base.
The mature and emerging basins of the UK and Norway provide balance to the frontier exploration portfolio and include the Barents Sea, which is believed to have high potential for commercial oil discoveries.