Cairn has built a strong position in the UK’s mature and emerging basins by acquiring exploration, appraisal and development assets and participating in licensing rounds.
Following an asset exchange agreement with Shell UK Limited in which the Company transferred a 50% WI in P2379 in exchange for 50% WI of P2380, Shell expects to spud the Jaws prospect on P2380 during Q4 2021. We aim to drill the operated Diadem prospect (P2379) in Q2 2022.
In the UK Southern North Sea, Cairn is the Operator of five licences alongside our joint venture partner, Deltic Energy Plc. Cairn holds interests in the following licences: P2428 and P2567 (60% WI) and P2560, P2561 and P2562 (70% WI).