Our aim is to deliver value for shareholders from discovery and development of hydrocarbons within a sustainable, self-funding business model.
We are an established and pioneering independent oil and gas exploration company with a track record of more than 20 years, delivering transformational value for all our stakeholders.
We are passionate about enriching people's lives through energy exploration and development. For us, this includes nurturing the talent of our staff, developing safe and healthy work places, protecting the environment and supporting strong, vibrant communities.
Cairn is a dynamic, entrepreneurial company. Our agility and ability to forge strong, open and lasting relationships are essential to our success.
We aim to be pioneers within a balanced portfolio. We are partners: we work with governments, joint venture associates, communities and suppliers to deliver value for all our stakeholders.
Our vision is to create an exploration-led and sustainable cash generative oil and gas business offering shareholders exposure to material capital growth potential.
We create, add and realise value within a self funding business, using either balance sheet cash or operating cash flow to fund exploration.
Our exploration programme is focused on seeking to create value within emerging and frontier basins. Since first starting work in Senegal in 2013 we have drilled six successful wells offshore Senegal; two basin opening, world class discoveries in 2014 and four successful appraisal wells in 2016. We are proud to have opened up a new oil province in Senegal and to have done so with two consecutive exploration well successes within such a large acreage area. Our exploration strategy is underpinned by our strong position in the UK and Norway with interests in two major UK North Sea developments, Catcher and Kraken on target to deliver first oil in 2017.
We have a consistent record of returning capital to shareholders. The Cairn philosophy is about creating, then realising value – and then growing the business once again.
We are passionate, driven and determined. We embrace change and encourage collaboration and teamwork in all that we do. It is these qualities, along with skill, stamina and our ability to combine technical and commercial expertise, that are essential to the business.
Exploration, development and production
Cairn has a proven track record of creating transformational growth and delivering significant value through exploration and development. Both are important parts of a well-balanced oil and gas portfolio.
Cairn’s success stems from being pioneers and partners. We focus on identifying assets that are capable of providing significant and sustainable growth, capturing as high an equity position as possible in frontier areas, using our strong technical and commercial expertise and working with our partners to take our assets from discovery to development safely.
Cairn’s quick decision making, agility and the ability to form strong and lasting relationships has benefitted not only the business but all stakeholders.
Across the portfolio Cairn seeks to acquire significant acreage positions, at appropriate equity levels, in areas we believe have high technical and commercial potential and where, in the case of initial success, we have the financial capability to leverage our knowledge and create value.
For Cairn, responsible management is about the balance of financial growth, the environment and the communities where we operate.
By carefully managing how we work, we not only reduce any potentially negative impact our operations may have but also generate and sustain value.
Everything we do is guided by the 3Rs: Respect, Relationships and Responsibility. These values inform our day-to-day business activities and are important to our staff, partners and contractors.
Principles, policies and values
Our values of building respect, nurturing relationships and acting responsibly are at the core of all that we do and inform how we work.
- Building Respect – We act with respect for people, their communities, the environment, human rights and the law.
- Nurturing Relationships – We act honestly, transparently and with integrity to develop strong, lasting relationships with all our stakeholders.
- Acting Responsibly – We behave fairly, ethically and are accountable for our actions. We believe in, and act on, our responsibility to care for people, society and the environment.
Our business principles are built on these values. They state how we will manage our business in accordance with our policies and set goals for our behaviour.
Supporting our people
Helping our people develop their skills and abilities ensures we continue to work towards our goals.
We encourage our staff to realise their potential and provide a supportive workplace in which diversity and equality are respected and valued.
The health and safety of our people is also vitally important to us. Throughout our global activities we ensure our people have a healthy, safe and secure workplace.
Protecting the environment
The safety of the environment where we operate is also vitally important to Cairn. Prior to operating in any new area, we assess the potential impact of our activities in order to avoid any impact where possible, and if this is not possible, to identify ways to mitigate against these and design plans accordingly.
We complete Environmental Impact Assessments (EIAs) which measure the potential environmental impact associated with our operations. EIAs provide the framework to assess, manage and monitor our environmental risks in line with the principles of the international environmental management standard ISO 14001. Across our operations we endeavour to reduce our impact on the environment and mitigate against risks of potential impacts to the environment.
Contributing to local communities
Wherever we work, we aim to develop long-term partnerships with local communities and work with them where possible to develop sustainable economic, social and environmental initiatives. We encourage local people to contribute to, and benefit from, our projects and believe that by working together we can succeed together. The benefits from our operations can include: energy, infrastructure, employment and trade with local enterprises.
Before operating in any new area, we carry out Social Impact Assessments (SIAs) to identify, manage and mitigate any potential impacts of our activities.
Net cash at 31 December 2015
Net proceeds from the sale of a 40% shareholding in Cairn India to Vedanta Resources
Returned to shareholders from Vedanta transaction
Returned to shareholders over the past five years