Cairn India COO Appointment
Cairn Energy PLC
06 May 2008
The headline for the Cairn Energy PLC announcement released today at 07:00 under
RNS No 7288T should read Cairn India COO Appointment and not Cairn India CEO
Appointment as previously stated.
The announcement text is unchanged and is reproduced in full below.
6 May 2008
CAIRN ENERGY PLC ('Cairn')
Appointment of Chief Operating Officer Cairn India
The release below was issued 5 May 2008 by Cairn India Limited ('Cairn India')
to the Bombay Stock Exchange and the National Stock Exchange of India.
Cairn India appoints new Chief Operating Officer
Cairn India has further strengthened its senior leadership team with the
appointment of Rick Bott as Executive Director and Chief Operating Officer,
effective 15 June 2008.
Rick, who is 48, brings extensive global exploration and production experience
with more than 20 years in the industry leading integrated organisations,
developing new business and focusing on cross-cultural leadership development.
Throughout his career he has worked and travelled extensively and has been
involved in evaluations and operations in more than 50 countries.
Rick joins Cairn India from Devon Energy's International division where he was
vice president responsible for developing and implementing business growth and
exploration strategy for assets in 12 countries outside of North America
focusing on the deepwater, West Africa, South America and the Middle East/Asia.
Previously he served as President of Ocean Egypt Companies and as President of
Ocean Yemen Corporation. He also served in a number of international management
and technical positions with British Gas and Tenneco.
Rick has a master of science in geology and a bachelor of science in marine
sciences from Texas A&M University. He is a member of the Houston Geological
Society, the American Association of Petroleum Geologists, Society of
Exploration Geophysicists, the Association of International Petroleum
negotiators and has written numerous technical and business publications for the
international energy industry and taught seminars on developing and operating
international business ventures. He has further experience in social development
projects that ensure the needs of the community and company are closely aligned
wherever operations take place.
Rahul Dhir, Managing Director and Chief Execuve Offcer of Cain India said:
'We are entering an exciting period of growth for Cairn in India. I am delighted
that Rick is joining our senior leadership team as the company gears up for the
first production from Rajasthan and looks to future growth opportunities both in
India and beyond.'
Rick Bott said:
'Joining Cairn India and moving to Delhi is a wonderful opportunity. The company
is in a hugely exciting period which provides significant opportunities to grow
and develop the business. This is a transformational period for Cairn India as
it looks to substantially increase its production which will be fundamental to
the future of the company and its shareholders. I'm delighted that I will get
the chance to play a key part in that growth.'
About Cairn India Limited
• 'Cairn India' where referred to in the release means Cairn India Limited
and/or its subsidiaries, as appropriate.
• 'Cairn' where referred to in this release means Cairn Energy PLC and/or
its subsidiaries (including Cairn India), as appropriate.
• Cairn India is headquartered in Gurgaon on the outskirts of Delhi, with
operational offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.
O On 9 January 2007, Cairn successfully concluded the flotation of its
Indian business with the commencement of trading of Cairn India Limited on
the Bombay Stock Exchange and the National Stock Exchange of India. Cairn
Energy PLC currently holds a 65% shareholding in Cairn India Limited.
• Cairn India is currently focused on exploration and production in India
where it has a working interest in 14 blocks, two of which are producing
hydrocarbons. The company holds material exploration and production
positions in west India and east India along with new exploration rights
elsewhere in India.
• This focus on India has already resulted in a significant number of oil
and gas discoveries. In particular, Cairn made a major oil discovery
(Mangala) in Rajasthan in the north west of India at the beginning of 2004.
More than 20 discoveries have been made in Rajasthan block RJ-ON-90/1.
• In Rajasthan, Cairn India operates Block RJ-ON-90/1 under a Production
Sharing Contract (PSC) signed on 15 May 1995. The main Development Area
(1,858km2), which includes Mangala, Aishwariya, Saraswati and Raageshwari;
is shared between Cairn India and ONGC, with Cairn India holding 70% and
ONGC having exercised their back in right for 30%. A further Development
Area (430 km2), including the Bhagyam and Shakti fields, is also shared
between Cairn India and ONGC in the same proportion.
• The Operating Committee for Block RJ-ON-90/1 consists of Cairn India and
ONGC.
• India currently imports approximately 2,000,000 barrels of oil per day
(bopd). It produces approximately 700,000 bopd itself of which
approximately 50,000 bopd comes from the Cairn India operated Ravva field
on the east coast of India
For further information on Cairn India Limited see www.cairnindia.com
Enquiries to: Tel: 0131 475 3000
Cairn Energy PLC
David Nisbet
Brunswick Group LLP: Tel: 0207 404 5959
Patrick Handley
Notes to Editors:
1. Cairn Energy PLC ('Cairn') is an Edinburgh-based oil and gas exploration
and production company listed on the London Stock Exchange.
2. 'Cairn', where referred to in this release, means Cairn Energy PLC and/
or its subsidiaries (including Cairn India), as appropriate.
3. 'Cairn India', where referred to in the release, means Cairn India Limited
and/or its subsidiaries, as appropriate.
This information is provided by RNS
The company news service from the London Stock Exchange