Cairn holds a non-operated interest in three developments in the North Sea, two of which are nearing production.
Kraken and Catcher, two of the largest UK North Sea development projects, are targeting production in 2017. Peak net production to Cairn of ~25,000 barrels of oil equivalent per day is expected from the two developments. The start-up of these developments is significant, as it will mark our first production, and the re-establishment of a cash-generative production base, since 2012 when Cairn sold its Indian business and returned cash to shareholders.
Our production assets will provide the cash flow to sustain future exploration and development activity.