Cairn Energy Plc ended this year’s $600 million drilling program off Greenland after the biggest exploration campaign attempted in the Arctic island’s waters failed to make a viable discovery.
Cairn Energy Plc, the Scottish oil company focusing on exploration off Greenland, will announce an expansion of its operation in the Mediterranean Sea when it reports first-half results on Aug. 23.
Cairn Energy Plc started drilling the first of four planned wells off west Greenland, Upstream reported, citing Mike Watts , deputy chief executive officer.
Cairn Energy Plc had record sales in 2010 as production increased in India where it’s selling a majority stake of its business to help finance oil and gas exploration off Greenland.
BP Plc, Statoil ASA and A.P. Moeller-Maersk A/S have shown interest in exploration in Greenland, according to an executive at Cairn Energy Plc.
"One commercial discovery will transform the region."
- Mike Watts on Oct 06, 2010