Cairn holds development assets which, once in production, will deliver cash flow to sustain future exploration.
Cairn is currently developing its 2014 exploration discovery offshore Senegal, the Sangomar discovery, into development planning. The Sangomar field as it is now known, is expected to deliver gross production of ~100,000 bopd (barrels of oil per day) First oil is targeted in 2023. Our partner Woodside is the operator of the development stage with Cairn as the largest equity partner with a 40% interest.
In 2017 Cairn progressed its two significant development projects in the UK North Sea, Catcher and Kraken, into first oil production. They are now producing at an average rate of more than 23,000 boe per day net to Cairn, providing a stable cash flow to fund exploration, appraisal and development activity.