Cairn Energy

Infobox Company
company_name = Cairn Energy plc
company_
company_type = Public (lse|CNE BSE|532792)
foundation =1980
location = Edinburgh, Scotland, UK
key_people = Norman Murray, Chairman
Sir Bill Gammell, CEO
industry = Upstream oil production
products =
revenue = $288 million (2007)
operating_income = $(76) million (2007)
net_income = $1,528 million (2007)
num_employees =
parent =
subsid =
homepage = [http://www.cairn-energy.plc.uk www.cairn-energy.plc.uk]
footnotes =

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.

History

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

Operations

Cairn Energy is currently active in India, Bangladesh and Nepal [cite web
title = Cairn Energy Operations
work = Cairn Energy
publisher = Cairn Energy
date = 2007-08-15
url = http://www.cairn-energy.plc.uk/operations/index.htm
format = HTML
accessdate = 2007-08-15 ] 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 [cite web
title = Proposed flotation of Cairn India Limited, approval of new share incentive arrangements and notice of extraordinary general meeting
work = Cairn Energy
publisher = Cairn Energy
date = 2007-08-15
url = http://www.cairn-energy.plc.uk/articles/article_262.shtml
format = HTML
accessdate = 2007-08-15 ] . 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 [cite web
title = Cairn Bids Places Bid in Phase 2 of Disko West Round
work = Bureau of Minerals and Petroleum (Greenland)
publisher = Rigzone
date = 2007-08-15
url = http://www.rigzone.com/news/article.asp?a_id=48626
format = HTML
accessdate = 2007-08-15 ] .

References

*Presentation to The Scottish Oil Club by Dr. Mike Watts of Cairn Energy titled [http://www.scottishoilclub.org.uk/events/041104.htm "Building a Business in South Asia"] , held in Edinburgh in November 2004.

External links

* [http://www.cairn-energy.plc.uk/ Cairn Energy Plc] (official company website)
* [http://business.timesonline.co.uk/article/0,,9072-1575968,00.html Oil finds to revive Cairn output from 2007-TimesOnline article]