Worker in hard hat on oil rig

Strategy

Cairn’s strategy is to deliver value for stakeholders by building and maintaining a balanced portfolio of exploration, development and production assets.

To maximise value, exploration is focused on frontier and emerging basins acreage from which the greatest value can be created. Cairn is currently focused on growing its Senegal resource base, and on progressing its North Sea developments to first oil and cash flow which is targeted in 2017.

Exploration

Frontier and emerging basin exploration acreage offshore Senegal, Morocco, the Republic of Ireland, Norway and Malta; mature exploration acreage in the UK and Norway.

Development

Non-operated interest in two development projects in the North Sea (Kraken and Catcher).

Production

Kraken and Catcher, two of the largest UK North Sea development projects, are targeting production in 2017.

Annual Key Performance Indicators (KPIs) identify the Company's strategic objectives and how they can be met, enabling the Company to measure its delivery of strategy.

2017 strategic objectives

Deliver exploration and appraisal success

Purpose: Grow the resources and reserves

Portfolio management

Purpose: Active portfolio management and acreage optiminsation

Deliver operational excellence

Purpose: In all 2016 activities

Maintain licence to operate

Purpose: Deliver value in safe, secure, environmentally and socially responsible manner

Deliver a sustainable business

Purpose: Maintain a self-funding business plan

'Cairn’s strategy is to create and deliver value from the discovery and development of hydrocarbon resources. We achieve this from a balanced portfolio and a sustainable, self-funding business model.' 

Simon ThomsonChief Executive