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Production

Cairn has production from two major UK North Sea assets, Catcher and Kraken, which Cairn progressed through the development stage to achieve 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 H1 2019 averaged ~23,700* boepd. Full year 2019 net production is estimated to be 21,000-23,000 bopd*.

Gross production from the Catcher Area (Cairn 20% WI) (comprising the Catcher, Varadero and Burgman fields) averaged ~66,600 bopd in H1 2019. Gross production from Kraken (Cairn 29.5% WI) averaged ~32,700 bopd in H1 2019.

Cairn also expects production from the Nova development with first oil targeted in 2021. Cairn holds a 10% non-operated interest in the Nova development in the Norwegian North Sea. Nova is expected to deliver plateau production of 50,000 bopd (5,000 bopd net to Cairn).

*Before FlowStream’s production entitlement which is expected to be 1,350 to 1,575 bopd in 2019

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