Cairn Energy

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Cairn Energy plc

Type	Public (LSE: CNE BSE: 532792)
Founded	1980
Headquarters	Edinburgh, Scotland, UK
Key people	Norman Murray, Chairman Sir Bill Gammell, CEO
Industry	Upstream oil production
Revenue	$288 million (2007)
Operating income	$(76) million (2007)
Net income	$1,528 million (2007)
Website	www.cairn-energy.plc.uk

Cairn Energy plc (LSE: CNE) is an independent oil exploration and extraction company. Its headquarters are in Edinburgh, Scotland and it is listed on the London Stock Exchange. It is currently a member of the FTSE 100 Index, having fluctuated between it and the FTSE 250 since 2004.

1 History
2 Operations
3 References
4 External links

[edit] History

The company was founded in 1980 by Sir Bill Gammell, the former international Rugby player, who remains its CEO.

[edit] Operations

Cairn Energy is currently active in India, Bangladesh and Nepal^[1]in both exploration and production. It's average daily production in 2006 was 25,000 BOE/d. In 2006 Cairn Energy spun off its production interests in Western and Eastern India into a separate company called Cairn India Limited. Cairn Energy maintains a 69.9% initial interest in Cairn India Limited ^[2]. Land held by Cairn India Limited includes the Mangala Area which is thought to contain up to 500 MMBbls of recoverable reserves and is expected to come on line in 2009 at a rate of 150,000 bbls/d.

Cairn Energy still maintains production operations in the Sangu Gas Fields of Bangladesh as well as exploration land in Northern India, Nepal and Southern Bangladesh. In August 2007, it was announced that Cairn Energy had submitted applications for two blocks located in the phase 2 of the Disko West licensing round offshore West Greenland ^[3].

[edit] References

^ Cairn Energy Operations (HTML). Cairn Energy. Cairn Energy (2007-15-08). Retrieved on 2007-15-08.
^ Proposed flotation of Cairn India Limited, approval of new share incentive arrangements and notice of extraordinary general meeting (HTML). Cairn Energy. Cairn Energy (2007-15-08). Retrieved on 2007-15-08.
^ Cairn Bids Places Bid in Phase 2 of Disko West Round (HTML). Bureau of Minerals and Petroleum (Greenland). Rigzone (2007-15-08). Retrieved on 2007-15-08.

Presentation to The Scottish Oil Club by Dr. Mike Watts of Cairn Energy titled "Building a Business in South Asia", held in Edinburgh in November 2004.