News

India Arbitration Update

21 Jul 2020

India Arbitration Update

Cairn is announcing an update on its proceedings against the Government of India under the UK-India Bilateral Investment Treaty.

The Arbitral Tribunal has indicated that, whilst it has encountered some difficulties created by the Covid-19 pandemic, it does not expect significant delays and hopes to remain reasonably within the lead-time it had anticipated. Whilst it is not yet able to commit to a specific date for its ruling, it expects a “release of the Award after the end of the summer.”

Cairn continues to have a high level of confidence in the arbitration and is seeking full restitution for losses of more than US$1.4 billion.

Enquiries:

Analysts/Investors
David Nisbet, Corporate Affairs
Tel: 0131 475 3000

Media
Linda Bain, Corporate Affairs
Tel: 0131 475 3000

Patrick Handley/David Litterick
Brunswick Group LLP
Tel: 0207 404 5959

About Cairn Energy PLC

Cairn is one of Europe's leading independent oil and gas exploration and development companies and has been listed on the London Stock Exchange for 30 years. Cairn has explored, discovered, developed and produced oil and gas in a variety of locations throughout the world as an operator and partner in all stages of the oil and gas lifecycle.

Cairn’s exploration activities have a geographical focus in the North Sea, West Africa and Latin America, underpinned by interests in production and development assets. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Senegal and Mexico.

For further information on Cairn please see: www.cairnenergy.com

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