Cairn Energy PLC 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. Cairn Energy has a primary listing on the London Stock Exchange and is a constituent of the FTSE 250 Index.
|Cairn Energy PLC|
|Public limited company|
|Traded as||LSE: CNE|
|Industry||Oil and gas|
|Headquarters||Edinburgh, Scotland, UK|
|Anthony McDonald (Chairman)|
Simon Thomson (CEO)
|Products||Petroleum, natural gas and other petrochemicals|
|Revenue||$410.3 million (2018)|
|$(182.1) million (2018)|
|$(1,135.5) million (2018)|
The company was founded in 1981 by Sir Bill Gammell, the former international Rugby player, his father James (Jimmy), his brother Pete and others. Its initial operations were in the USA and, following its listing on the London Stock Exchange in 1988, it expanded into the UK North Sea and internationally (Papua New Guinea, Spain, Vietnam, China and Australia). Cairn acquired Conoco's UK onshore acreage in 1988 and became one of the largest operators of UK onshore oil production with the Palmers Wood oil field just south of London, near Junction 6 of the M25, and at Humbly Grove (near Basingstoke).
Cairn's expansion started with a substantial (non-operated) gas discovery (East Cameron 331) Bangladesh near Chittagong, in 1996. In parallel, Cairn launched a series of takeovers of public listed companies – Teredo Petroleum in 1994, Holland Sea Search NV in 1995 and Command Petroleum in 1996.
In 1996, Cairn farmed out a 25% interest in the Sangu field to Halliburton in return for Halliburton bearing a 50% share of the development costs. In 1997, it sold half of all its Bangladeshi interests to Royal Dutch Shell in return for Shell assuming a $330 million carry of Cairn's exploration and development costs. This agreement gave Cairn an interest in Shell's huge acreage position in Rajasthan onshore in North West India. Cairn drilled two unsuccessful exploration wells and Shell then sold its 50% share to Cairn for $7.5 million: Cairn's third well, now 100% owned, found the Mangala oil field.
In December 2010, Cairn agreed to sell a stake of 58.5% of Cairn India, its India-focused subsidiary, to Vedanta Resources for $8.67 billion. Talks between the two companies started in August 2010. However, approval did not come from the Indian government until September 2011 and the deal had to be restructured.
The company sold an additional 3.5 per cent of its shares in its Cairn India for about USD 360 million in June 2012. In March 2014, the company announced that Bill Gammell would step down as chairman after the annual general meeting on 15 May 2014.
Cairn's business operations are now focused on frontier exploration acreage in Senegal, Norway and the United Kingdom as well as Africa and the Mediterranean.
Aggreko plc is a supplier of temporary power generation equipment and of temperature control equipment. It is headquartered in Glasgow, Scotland, United Kingdom. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.Aishwarya Oil Fields
Aishwarya oil field is located in Barmer district in Rajasthan state in India. It is India's second biggest oil discovery ]], Cairn Energy Executives described as a 'living goddess'. It went into production in March, 2013 starting off at 30,000 barrels per day. The MBA field is expected to scale up to 200,000 in two years, which will be around 10% of India's total oil consumption. At its peak rate, its production will be equal to around 30% of India's present oil production.Cairn India
Cairn India is an Indian oil and gas exploration and production company, headquartered in Gurgaon, India. It is a subsidiary of Vedanta Resources. Cairn India is one of the largest independent oil and gas exploration and production companies in India. Cairn and its JV partners’ account for more than a fifth of India’s domestic crude oil production. It has been operating in India for more than fifteen years with a unique working culture of on average 4 days a week working. Cairn India’s producing assets are in Rajasthan, Cambay and Ravva. Cairn India has a portfolio of nine blocks, that it operates, which are located in four strategically focused areas: one in Rajasthan; two on the west coast of India; five on the east coast of India (including one in offshore Sri Lanka) and one in offshore South Africa.
The Mangala discovery in Rajasthan in 2004 was the largest onshore discovery in the country in the past two decades. The company operates a producing oil field in the Indian private sector.Cairn produces oil and gas from three blocks in India: Ravva in Andhra Pradesh, CB-OS/2 in Gujarat and RJON-90/1 in Rajasthan. In 2007, Cairn India was listed on the National Stock Exchanges and as on date has a market capitalisation of ~$14 billion and amongst the top 25 Indian company in the NIFTY 50 index. Top 250 Global Energy Company Rankings by Platts, ranked Cairn India for being the World's fastest-growing energy company in 2011. Now the Company plans to invest $3 billion in the next three years in finding more oil and raising output from Rajasthan oilfields.In early 1999, Cairn made the first Rajasthan discovery – Guda field, followed by Saraswati in 2001. Mangala was their biggest discovery in 2003, followed by Raageshwari, Bhagyam, Aishwariya, Kaameshwari and GR-F fields in Rajasthan. In 2003, Cairn acquired 100% of the exploration interest and took over as the operator of the block.
Ravva block in eastern coast of India was the first offshore oil and gas field to be developed, followed by the Lakshmi gas field in western India, which was discovered in 2000 and commenced production in 2002. In January 2004, Cairn India added the Mangala oil field in Rajasthan to its assets and this, along with, the other discoveries in Rajasthan.
On 9 January 2007, Cairn India Limited was listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Two of blocks are located onshore in the Barmer and Krishna-Godavari Basins, and the remaining seven blocks are all located offshore in the Krishna-Godavari Basin, the Palar-Pennar Basin, the Cambay Basin, and the Mumbai Offshore Basin in India, and the frontier Mannar Basin in Sri Lanka and the Orange Basin in South Africa.ContourGlobal
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