Arctic decision expected from Cairn Energy in 2015

EDINBURGH, Scotland, April 16 (UPI) -- A decision on whether or not to conduct a drilling plan for arctic reserves is expected next year, Scottish company Cairn Energy said.

In 2011, Cairn targeted arctic reserves off Greenland's coast. It said the reserve potential there was approximately 3.2 million barrels of oil equivalent, though it was forced to abandon the effort after coming up empty handed.

The company, in an annual report Tuesday, said it had no plans to drill in the arctic this year, saying the risks of doing so remain "unchanged."

"The group is targeting a drilling decision in 2015," the company said.

Greenpeace Executive Director of Greenpeace International Kumi Naidoo was arrested by Dutch authorities in 2012, after scaling a platform belonging to Cairn Energy to protest arctic drilling programs.

A Dutch court ruled against Greenpeace after Cairn Energy sued the group.