Share price 187.90 GBp Contacts ABOUT US OPERATIONS INVESTORS NEWS & MEDIA WORKING RESPONSIBLY CAREERS ABOUT US Our story At a glance Responsible approach Our business model Our strategy Board Egypt: a new platform for growth Our legacy in India Our story In 2018, we celebrated being listed on the London Stock Exchange for 30 years. Cairn is an experienced oil and gas explorer, developer and producer and has operated in a variety of locations around the world. Historically, the company focused on South Asia where we created significant value for shareholders and stakeholders, particularly through the discovery, development and production of oil in Rajasthan, India. This was the largest onshore discovery in India for more than 25 years with the potential to provide more than 30% of India’s daily crude oil production and generate many billions of US dollars in revenue for the Government of India. In 2006 the Indian business, Cairn India Limited (CIL), was listed on the Indian stock exchanges and in 2012, the majority stake in CIL was sold and the cash returned to shareholders as part of our business model to create, add and realise value for shareholders. Between 2006 and 2012, we returned US$4.5 billion to shareholders. Having created a legacy asset for India, we then focused on rebuilding the business to create, add and realise value once again through exploration, development and production. We made the largest global offshore discovery of 2014 in Senegal which is now in the development planning stage, and participated in the development of two of the largest projects in the UK North Sea, Catcher and Kraken, which began production in 2017. We have a flexible exploration portfolio with a balance of near infrastructure, short cycle time opportunities with high value while remaining exposed to large, more frontier opportunties. This exploration is sustained by our production and development assets in the North Sea which provide the cash flow to support future exploration and development activity. 1980 Company founded by Sir Bill Gammell 1988 Cairn Energy PLC formed and listed on the London Stock Exchange with market capitalisation of £25 million 1993 Entry into Bangladesh via joint venture with Holland Sea Search N.V 1994 Acquisition of further interest in Bangladesh 1995 Acquisition of Holland Sea Search N.V, increasing Bangladesh presence 1996 Acquisition of Command Petroleum Limited, which included operatorship of the Ravva field in India Sangu gas field discovered in the Bay of Bengal, Bangladesh 1997 Partnership with Shell in Bangladesh and India, including a 10% interest in Rajasthan (India) block 1998 Interest acquired in the Cambay Basin, India, with Cairn as operator First gas from Sangu, Bangladesh First exploration well in Rajasthan, India (Guda) 1999 First Rajasthan discovery (Guda) Ravva oil field reserves doubled and production increased from 3,700 bopd to 50,000 bopd 2000 First Cambay Basin discovery, Lakshmi, India 2001 Second Cambay Basin discovery, Gauri, India 2002 100% of Rajasthan block acquired from Shell First gas from Lakshmi, India (discovery to delivery in 28 months) 2003 Second Rajasthan discovery (Raageshwari) 2004 Three major Rajasthan discoveries – Mangala (the largest onshore oil find in India for 25 years), Bhagyam and Aishwariya Joined the FTSE 100 2005 First oil from Gauri field, India 2006 Cairn India Limited created 2007 Initial Public Offering (IPO) of Cairn India Limited on Indian Stock Exchanges, raising US$2 billion and returning US$1 billon to shareholders, 69% interest retained, biggest IPO in India at the time Acquired interests offshore Greenland 2009 Production commenced from the Mangala field, Rajasthan Mangala Processing Terminal (processing the crude oil from the Rajasthan fields) opened 2010 Pipeline from Rajasthan to refineries completed, world’s longest pipeline at the time Three wells drilled offshore Greenland 2011 Five wells drilled offshore Greenland 2012 Sale of 40% of Cairn India Limited (CIL) to Vedanta Resources Limited; US$3.5 billion returned to shareholders, 10% interest in CIL Sale of additional 11.5% interest in CIL for ~US$1.3 billion Acquisition of UK listed company Nautical Petroleum PLC, bringing exploration and development assets in UK and Norwegian North Sea (including Kraken development) and exploration in Morocco Acquisition of private Norwegian company Agora Oil and Gas AG, bringing exploration and development assets in UK and Norwegian North Sea (including Catcher development) 2013 Farm-in as operator to three blocks offshore Senegal, West Africa ConocoPhillips acquired 25% interest in Cairn’s blocks offshore Senegal, Cairn retained operatorship and 40% interest First well drilled offshore Morocco, Foum Draa permit 2014 Second well drilled offshore Morocco, Juby Maritime permit Two successful wells drilled offshore Senegal, resulting in the FAN and Sangomar oil discoveries 2015 Relinquishment of Foum Draa and Juby Maritime permits offshore Morocco Non-operated well offshore Western Sahara 2016 Four successful exploration and appraisal wells offshore Senegal 2017 Five successful exploration and appraisal wells offshore Senegal Two licences awarded in Mexico offshore licensing round First oil delivered from both Kraken and Catcher developments 2018 Development planning in Senegal with first oil expected 2022 and in Norway with first oil expected 2021 Third licence acquired offshore Mexico First full year of production from Kraken and Catcher in the North Sea New country interests acquired in Suriname, Mauritania and Côte d’Ivoire 2019 Equity swaps to increase acreage position offshore Mexico Production from Kraken and Catcher fields materially improved New country interests acquired in Israel Active exploration programme spanning the UK and Mexico 2020 Final Investment Decision on Sangomar Development Senegal Oil discovery offshore Mexico Disposal of Capricorn Norge AS Disposal of Senegal assets The tribunal established to rule on Cairn’s claim against the Government of India found in Cairn’s favour, awarding damages of US$1.2billion plus interest and costs 2021 US$250m special dividend following sale of Senegal interests Acquisition of Western Desert Assets, Egypt from Shell Sale of the Kraken and Catcher production assets Privacy and cookies Legal Modern slavery statement Email alerts Services © Cairn Energy PLC 2021 By emperor Cookie Control Icon For more detailed information about the cookies we use, see our Cookies policyCookie Control Link Icon Save and close