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Kraken and Catcher were two of the largest UK North Sea development projects and produced first oil in 2017. Cairn holds a 20% non-operated interest in the Catcher development and a 29.5% non-operated interest in the Kraken development.

Net production to Cairn from the Catcher and Kraken fields in 2018 averaged ~17,500* boepd. 2019 net production is estimated to be 19,000-22,000 bopd*.

Gross production from the Catcher Area (Cairn 20% WI) (comprising the Catcher, Varadero and Burgman fields) averaged 43,000 boepd in 2018. Gross production from Kraken (Cairn 29.5% WI) averaged 30,300 boepd in 2018.

Cairn also expects production from the Nova development with first oil targeted in 2021. Cairn holds a 20% non-operated interest in the Nova development in the Norwegian North Sea. Nova is expected to deliver plateau production of 50,000 bopd (10,000 bopd net to Cairn).

*Before FlowStream’s production entitlement of ~1,360 bopd in 2018; expected to be 1,350 to 1,575 bopd in 2019

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