|Type||Public limited company|
|Traded as||LSE: CNE|
|Industry||Oil and gas|
|Key people||Sir Bill Gammell
|Products||Petroleum, natural gas and other petrochemicals|
|Revenue||$ 0 million (2012)|
|Operating income||$(247.3) million (2012)|
|Net income||$72.6 million (2012)|
Cairn Energy plc is an independent Scottish oil and gas exploration and production company headquartered in Edinburgh. It has operational interests in Albania, Bangladesh, Greenland, India, Nepal and Tunisia and produces around 33,000 barrels of oil equivalent per day. Its largest activities are in India, where it has made more than 20 discoveries in Rajasthan, including a major oil discovery in Mangala. As at 30 June 2010 it had total proven commercial reserves of 247.4 million barrels (39,330,000 m3) of oil equivalent.
The company was founded in 1981 by Sir Bill Gammell, the former international Rugby player, who remains its CEO, 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, Humbly Grove (near Basingstoke) and others.
Cairn's expansion started with a substantial (non-operated) gas discovery (East Cameron 331) in the Gulf of Mexico in 1993 followed by another large gas discovery at Sangu, offshore 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 Indian 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 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 will step down as chairman after the annual general meeting on May 15, 2014. 
In 2006 Cairn 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. Acreage held by its subsidiary Cairn India includes the Mangala Area in Rajasthan which is thought to contain up to 1 billion barrels (160×106 m3) of recoverable reserves and came onstream 29 August 2009 with a projected plateau production rate of 175,000 barrels per day (27,800 m3/d).
Cairn still maintains production operations in the Sangu Gas Field offshore Bangladesh as well as exploration acreage in Northern India, Nepal and Southern Bangladesh. In August 2009, Cairns started oil production in Rajasthan, India. This oil production is expected to meet about 6% of India's oil demands over the next few years and will represent about 20% of current oil production capacity.
In September 2010, Vedanta Resources said that it was interested in buying a controlling stake of Cairn India. Union petroleum secretary S Sundareshan said that if Vedanta meets all the requirements for the deal there won't be any issue..“If the no-objection certificate is received from these 10 PSCs, the deal can get the green signal, he added. We have written to Cairn stating that they should seek these approvals." Vedanta Resources acquired a 58.5% stake in Cairn India on 8 December 2011, for $8.67 billion. Navin Agarwal is the new chairman of Cairn India.
Cairn has continued to sell of shares of Cairn India.
In Greenland Cairn operates through its subsidiary Capricorn Greenland Exploration Limited. In August 2007, it was announced that Cairn had submitted applications for two blocks located in the phase 2 of the Disko West licensing round offshore West Greenland. All together, it has six exploration licences, including Sigguk, Eqqua, Kingittoq and Saqqamuit blocks as an operator, and Atammik and Lady Franklin blocks as a minority partner in partnership with Encana Corporation.
In November 2011 the company announced that it had made a second gas discovery in Sri Lanka.
|This section does not cite any references or sources. (February 2014)|
In January 2011 the company was awarded a license by the Spanish government for prospection and drilling in the area around the Balearic Islands and the Costa del Sol. There has been local and international opposition to the project with allegations of faulty environmental impact studies performed between 2012 and 2013. Ecologist organisation "OCEANA" warning that a marine ecosystem of more than 17 million hectares which include, 82 protected areas and nearly 200 protect species are at risk due to the ongoing seismic surveys and future drilling using fracking technology. Local communities which depend from tourism in Formentera, Ibiza, Majorca, Menorca as well as the Costa del Sol are mobilizing to stop the project.
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- Onshore Oil and Gas Discoveries 1983–2000 National Archives
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