• Cairn Energy says it has the funds to fuel its projects through to production

    The independent oil and gas explorer expects first oil from its Catcher and Kraken developments east of the Shetland Islands this year. The wells are expected to produce 25,000 barrels of oil equivalent per day. Simon Thomson, Chief Executive, Cairn Energy PLC said: “Cairn is fully-funded in respect of all of our capital commitments and we continue to actively assess and pursue new ventures”. The Edinburgh based company will also begin its third drilling program in Senegal later this month. Shannon Sharpe Jersey

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