Appointment of Non-Executive Director

RNS Number : 0650I

Cairn Energy PLC

28 June 2013

 



FOR IMMEDIATE RELEASE                                                                                                 28 June 2013

CAIRN ENERGY PLC ("Cairn" or "the Company")

Appointment of Non-Executive Director

Cairn is pleased to announce the appointment of Ian Tyler as an independent non-executive director of the Company with immediate effect. Mr Tyler will also be appointed as a member of the Company's audit and remuneration committees.

Mr Tyler is currently non-executive chairman of Al Noor Hospitals Group plc, a non-executive director and chairman of the audit committee of Cable & Wireless Communications plc and a non-executive director of BAE Systems plc.

Mr Tyler was previously Chief Executive of Balfour Beatty PLC, a post he held from 2005 until March 2013. During his tenure in this role he took the company from being primarily a UK construction business to a global infrastructure services business, increasing revenue from £4.2 billion to £10.9 billion.

Mr Tyler read Commerce at Birmingham University, graduating with a first class degree. He then trained as an accountant with Arthur Andersen, qualifying in 1987. Mr Tyler subsequently held a number of senior finance and operational positions within listed companies, including Finance Director of ARC Ltd, a principal subsidiary of Hanson PLC and Finance Director and subsequently Chief Operating Officer of Balfour Beatty PLC prior to his appointment as Chief Executive.

Mr Tyler does not currently hold any Cairn shares and no further information in connection with his appointment is required to be disclosed pursuant to Listing Rule 9.6.13R.

Sir Bill Gammell, Chairman of Cairn, said:

"I am delighted to welcome Ian Tyler to the Cairn Board.

Ian's extensive business experience and independent perspective from outside the oil and gas industry will be of immense value to Cairn."

NOTES TO EDITORS

Cairn instructed independent recruitment consultants Ridgeway Partners in connection with the appointment of Ian Tyler.

About Cairn

Cairn Energy PLC ('Cairn') is one of Europe's leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world. The company historically focused its activities on the geographic region of South Asia where it operated for more than 20 years.  During this time it discovered, developed and produced oil and gas both offshore and onshore in Bangladesh and India and made more than 40 significant discoveries.  In particular, Cairn made a major oil discovery in Rajasthan in the north west of India at the beginning of 2004 where over 25 discoveries have since been made with the potential to provide more than 30% of India's crude oil production.  Today, Cairn continues to hold an approximate 10% shareholding in Cairn India Limited. Cairn's business operations are now focused on frontier exploration acreage in Morocco, Senegal, Ireland, Greenland and the Mediterranean along with exploration and pre-development interests in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Greenland, Norway, Spain and Morocco. 

Cairn in Morocco

Ø Cairn operates two exploration permits offshore Morocco where it is planning a multi-well drilling programme commencing H2 2013.

Cairn in Greenland

Ø Cairn through its subsidiary, Capricorn, operates 11 blocks offshore Greenland.

Ø A total of 14 exploration wells have been drilled offshore Greenland to date, five of which were drilled in the 1970s, one in 2000, three by Cairn in 2010 and five by Cairn in 2011.

Cairn in UK and Norway

Ø Cairn has non-operated and operated exploration, appraisal and development assets in the UK and Norwegian North Sea.

Cairn in the Mediterranean area

Ø Cairn is in the early stages of carrying out frontier exploration in Spain.

Ø Cairn has interests in Area 3 in Malta.

Cairn in Senegal

Ø Cairn has farmed-in as Operator (65%) to three blocks offshore Senegal, subject to regulatory approval.

Cairn in Ireland

Ø Cairn has farmed-in as Operator (38%) to two licences offshore West of Ireland, subject to regulatory approval.

Cairn and Corporate Responsibility

Ø Cairn is a signatory to the UN Global Compact and our core values of respect, responsibility, relationships and our commitments towards people, the environment and society are enshrined in our Business Principles, which are available on the Cairn website at http://www.cairnenergy.com/index.asp?pageid=282

 

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