By Firat Kayakiran (Bloomberg) -- Cairn Energy Plc expects a slump by half in the cost of oil rigs to sustain the U.K. producer’s exploration in Senegal even after crude prices sank in previous months. “From an exploration operative perspective it is a good time to be contracting rigs,” Chief Executive Officer Simon Thomson told reporters on a call Tuesday. Cairn and … [Read more...]
Oil and Gas Explorers Converge Offshore Morocco
By Aziz El Yaakoubi MARRAKESH, Morocco, April 29 (Reuters) - Morocco will drill 30 oil and gas wells in 2014 as part of the North African kingdom's planned expansion of exploration, its energy minister said on Tuesday. Morocco has awarded dozens of permits to oil companies in the past few years, helped by its relative stability compared with other North African countries … [Read more...]
Cairn Chooses Russian X-Bow For Seismic Work Offshore India
Singapore-based offshore specialist Nordic Maritime, in collaboration with Sovcomflot (SCF Geo), has been awarded a USD $23.5 million contract to provide 3D marine seismic data acquisition and processing services off the east coast of India to Cairn India Limited, starting later this month. The contract will involve the use of the 2011-built, Ulstein-designed, 8-streamer … [Read more...]
Cairn Energy Focuses on the Atlantic Margin
For the forseeable future, Cairn Energy is a company focused on the Atlantic Margin according to CEO Simon Thomson. This is an area that includes the mostly unexplored regions along the continental shelves of north-western Africa, Ireland and the west coast of Greenland. Thomson notes that after 5 or so years of profitable campaigns in southern Asia, they are now focused on … [Read more...]
Transocean’s Cajun Express is Heading to Africa
Since May 2010, Transocean's Cajun Express has been drilling offshore Brazil for Petrobras at a healthy day-rate of $517k per day. UK-based energy firm Cairn Energy, announced this morning they have secured a "long term contract" for the Cajun Express after its existing contract with Petrobras expires this June. We spoke with a Cairn spokesperson this morning, however … [Read more...]
Cairn Puts the Brakes on Arctic Drilling After Unsuccessful $600 Million Campaign in 2011
LONDON (Dow Jones)--Cairn Energy PLC (CNE.LN) Tuesday shrugged off the disappointment of a $1.19 billion full-year loss, insisting that there were sufficient "transformational" opportunities in its oil exploration and development portfolio to support future profitability, even though the Edinburgh-based firm doesn't plan to drill another Greenland well this year. "We do have … [Read more...]
2000 Miles from Nowhere… Statoil and Cairn Plan to Drill off Northwestern Greenland
Statoil has acquired a 30.625% working interest in the Pitu licence in Baffin Bay. The license was awarded to Cairn Energy during the first Baffin Bay licensing round in December 2010. Cairn will continue as operator and retains a 56.875% working interest while partner Nunaoil will retain its carried (pre-development) interest of 12.5%. The Pitu licence lies … [Read more...]