Our highly experienced leadership team has delivered transformational value for more than 20 years.
How we create value
The Company seeks to create, add and realise value for stakeholders through the exploration, development and production of oil and gas within a self-funding business model. Exploration offers material value upside potential to stakeholders and production provides the cash flow to sustain exploration and development.
Reshaping the business
In 2012 Cairn made a significant return to shareholders following the sale of its Indian business and proceeded to rebuild a portfolio of assets across the UK and Norway and the Atlantic Margin. We have created a strong platform for future growth with active positions in ten countries providing significant acreage positions of technical and commercial value.
Emerging and frontier basin exploration
Our exploration focus is on emerging and frontier basins, considering all opportunities with a promising subsurface arrangement and attractive fiscal terms. The discovery of the SNE field offshore Senegal in 2014 marked a landmark exploration success and provides an opportunity to implement our strategy of creating, adding and realising value for shareholders through a balanced, well-funded and sustainable company. We continue to expand our portfolio with the addition of a number of exciting opportunities to generate longer-term exploration value exposure.
Development and production
Our strategic focus is also on the mature and emerging basins in the UK and Norway, which provide production and future development options. We have high quality assets and the start-up of the Kraken and Catcher developments in 2017 was significant, as it marked Cairn’s first production since 2012, when we sold the majority stake in our Indian business and returned the proceeds to shareholders. The mature and emerging basins of the UK and Norway provide balance to Cairn’s frontier exploration portfolio and deliver the cash flow to sustain future exploration. Further production is expected in 2022 from the world-class SNE field offshore Senegal, which is currently entering the development stage.
Funding flexibility is a core element of our strategic delivery and further growth. With a fully funded balance sheet, the Company is well positioned to the prevailing oil price environment, which presents challenges to the industry but also opportunities to allocate capital to value enhancing projects while benefiting from reduced operational costs.
Corporate responsibility remains at the heart of our business. We continue to prioritise the health, safety, security and well-being of our people, while promoting safe behaviours among contractors and partners. We remain committed to protecting the environment in the areas where we operate. Good governance is also important, and we are committed to meeting all our obligations in a responsible and transparent manner.