We have a track record of more than 20 years of delivering transformational value for our stakeholders.
A history of large-scale discoveries
In India we built an exploration, development and production business, Cairn India Limited, focused on Rajasthan in North West India. Cairn India Limited is expected to deliver more than 30% of India’s overall domestic oil output. Today the Rajasthan development is one of the largest oil and gas developments in India. Cairn retains a ~10% stake in Cairn India.
Cairn built a large production business in India from discoveries predominantly in Rajasthan. From the projects which Cairn created, more than $100 billion will be generated for the national and state exchangers. Cairn India Limited was floated on the Indian stock exchanges in 2007, at the time the largest IPO in India and since when Cairn has generally sold down its interests.
The Cairn story in India is one that has been a huge benefit to the country. During our twenty year investment, Cairn has been a model corporate citizen and created a legacy asset which is seen as an excellent example of what can be achieved through India and UK cooperation.
A track record of value creation
Our strategy is to create material growth potential; we have a track record of value realisation and return of value to shareholders.
- Equity raised in UK markets between 1988 and 1993: c. £35 million
- Equity raised in UK markets since entering South Asia in 1993: c. £300 million
- £1.1 billion raised through Cairn India Limited
- In December 2011 we completed the sale of a 40% shareholding in Cairn India Limited to Vedanta Resources plc for net proceeds of approximately $5.5 billion in cash.
- We returned approximately $4.5 billion of the sale proceeds to shareholders.
An experienced leadership team
Our team, led by Chief Executive Officer Simon Thomson, has extensive corporate, exploration, development, operational and project management experience and a track record of delivering success.
Net proceeds from the sale of a 40% shareholding in Cairn India to Vedanta Resources
Returned to shareholders over the past five years