Exploration Offshore Greenland

RNS Number : 8125H

Cairn Energy PLC

03 June 2011

 



FOR IMMEDIATE RELEASE                                                                                                   3 June 2011

CAIRN ENERGY PLC ("Cairn")

Exploration Offshore Greenland

Cairn has commenced drilling operations on two wells offshore West Greenland.

The AT-7 well in the Atammik Block, approximately 160 kilometres offshore Nuuk, west Greenland and the LF-7 well in the Lady Franklin Block approximately 300 kilometres offshore Nuuk have both started operating.

The Leiv Eiriksson, a fifth generation semi submersible and the Ocean Rig Corcovado, a sixth generation drillship, are to carry out the drilling programme offshore Greenland this summer.

The AT-7 prospect in the Atammik Block and LF-7 prospect in the Lady Franklin Block are in water depths of 905 and 989 metres respectively.  

An update on the drilling operations will be provided in due course.

Enquiries to:

Cairn Energy PLC Sir Bill Gammell, Chief Executive Dr Mike Watts, Deputy Chief Executive Jann Brown, Finance Director David Nisbet, Corporate Affairs	Tel: [phone]
Brunswick Group LLP Patrick Handley David Litterick	Tel: [phone]

NOTES TO EDITORS:

Ø Cairn Energy PLC ("Cairn") is an Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange. Following the IPO of Cairn India in January 2007, there are two separate arms to the business:

o  Cairn India limited ("Cairn India") is listed on the Bombay Stock Exchange and the National Stock Exchange of India and has interests in a total of 11 acreage blocks in India and Sri Lanka. Cairn currently retains a 62.2% interest in Cairn India.

o  Capricorn Oil Limited ("Capricorn"), a 100% subsidiary of Cairn, is focused on exploration. Capricorn has assets in Nepal, Greenland, Albania and Spain.

Ø "Cairn" where referred to in this release means Cairn Energy PLC and/or its subsidiaries (including Cairn India and Capricorn), as appropriate.

Ø "Cairn India" where referred to in the release means Cairn India Limited and/or its subsidiaries, as appropriate.

Ø "Capricorn" where referred to in this release means Capricorn Oil Limited and/or its subsidiaries as appropriate.

Ø Cairn has previously focused its activities on the geographic region of South Asia, resulting 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. Cairn has now made 25 discoveries in Rajasthan block RJ-ON-90/1.

Ø Cairn India is headquartered in Gurgaon on the outskirts of Delhi, with operational offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.

Ø Cairn Energy PLC (including Capricorn) is run from Edinburgh with operational offices in, Nuuk and Kathmandu. Cairn has now drilled three of the total nine exploration wells drilled offshore Greenland, previously five wells were drilled in the 1970s and one in 2000. 

Ø For reasons of operational flexibility and safety the drilling operations will be carried out with two state-of-the-art dynamically positioned drilling vessels - the Ocean Rig Corvocado, a dynamically positioned drillship and the Leiv Eiriksson, a semi-submersible drilling rig. The operations are supported by four helicopters and a range of support vessels including: six ice management vessels, two emergency response standby vessels, three supply vessels, one multirole vessel, one freighter and two wareships for accommodating crews if necessary. 

For further information on Cairn please go to: www.cairnenergy.com

 

END

 

 

DRLGUGDLSSGBGBX