Frontier basins focus of Cairn Energy strategy

Jan. 22, 2014 at 7:03 AM
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EDINBURGH, Scotland, Jan. 22 (UPI) -- Scottish company Cairn Energy said it plans to drill nine new wells during its 2014 campaign, where West African developments take center stage.

"Cairn plans to drill nine wells in its 2014 exploration program across an attractive mix of frontier and mature basins," Cairn Energy Chief Executive Officer Simon Thomson said in a statement Tuesday.

Cairn, serving as the operator, said it plans two wells off the coast of Senegal and one off Morocco. The company in October said it was committed to a frontier exploration campaign in Morocco.

West Africa has drawn interest from international energy companies eager to tap into unexploited reserves.

One well is planned at Cairn's operations off the western coast of Ireland and the company said Tuesday it was committed to plans to exploit the Pitu reserve area off the northwest coast of Greenland.

Cairn last year sold off a stake in its Pitu concession to Norwegian energy company Statoil. The Scottish company has so far failed to find commercial discoveries of oil and natural gas off Greenland's coast.

The company said four wells are scheduled in the North Sea region in areas where it's not serving as the operator.

A seismic survey, used to get a better understanding of the reserve potential, is planned by Cairn this year off the Irish coast.

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