Investors

Annual Report 2020

RESPONSIBLE. READY. REFOCUSED.

Our approach

RESPONSIBLE.

It’s always the right time to do the right thing. We continue to develop our responsible approach, ensuring the sustainability of our business and delivering our commitments to our stakeholders and the communities where we operate.

READY.

Fiscal discipline and financial flexibility. Active portfolio management has enabled return of cash to shareholders, whilst retaining the ability to invest through the cycle and expand and diversify our production base to support long-term value creation.

REFOCUSED.

A balanced approach to exploration. A focus on ‘advantaged barrels’ targets attractive resources with optimised development timelines, scale and supportive fiscal environments, with strong alignment with our ESG priorities.

2020 Highlights

~21,000

Net oil production averaged (bopd)

US$ 324m

Oil and gas sales revenue

US$ 239m

Net cash inflow

US$ 570m

Year end Group cash

US$ 1.2bn

India arbitration award in Cairn’s favour of

US$ 250m

Returned to shareholders from Senegal proceeds

Our focus

Exploration

Exploration activity, including seismic surveying and drilling, can create material value.

Development

Moving exploration success into development, or acquiring development assets, adds value.

Production

Progressing development assets into production results in cash flow to reinvest or return to shareholders, realises value.

Chair’s Statement

Nicoletta Giadrossi, Chair

Responsible
portfolio
management

Download Chair’s Statement (PDF)

CEO's review

Simon Thomson, CEO

Committed to
creating 
value
responsibly

Download ceo's review (pdf)

Our strategy

Our key strategic goals are all about driving shorter investment cycles and ensuring low break-even costs across our asset base.

Our strategy

Business model

Cairn’s business model is to hold assets within the oil and gas life cycle in order to create, add and deliver value for stakeholders.

Our business model