Statement re NELP V
Cairn Energy PLC
26 July 2005
26th July 2005
CAIRN ENERGY PLC
Cairn awarded new exploration blocks in India
The Government of India (GOI) has announced that Cairn has been awarded five new
exploration blocks in India. The blocks were awarded to Cairn and its joint
venture partners under the fifth New Exploration Licensing Policy round (NELP
V).
There was an unprecedented level of international interest for this latest round
of licences. In competitive bidding there were a total of 69 bids for 20
exploration blocks with bids from 26 foreign companies including Cairn.
Cairn has been awarded five onshore and offshore blocks, including two new areas
in Rajasthan. The blocks are as follows:
• RJ-ONN-2003/1 Onshore Western Rajasthan, Rajasthan Basin
Cairn (30%), ONGC (36%) and ENI (34%, operator)
• VN-ONN-2003/1 Onshore Eastern Rajasthan, Vindhyan Basin
Cairn (49%, operator) and ONGC (51%)
• KG-ONN-2003/1 Onshore Andhra-Pradesh, Krishna-Godavari Basin
Cairn (49%, operator) and ONGC (51%)
• GV-ONN-2003/1 Onshore Uttar Pradesh, Ganga Valley Basin
Cairn (49%, operator) and ONGC (51%)
• GS-OSN-2003/1 Offshore Gujarat, Saurashtra Basin
Cairn (49%) and ONGC (51%, operator)
Bidding for the blocks closed on 31st May 2005. The GOI has indicated, subject
to finalisation of contract, that the signing of the Production Sharing
Contracts will take place by 2nd October 2005, enabling initial work to commence
in 2006.
Bill Gammell, Chief Executive of Cairn said:
'We are delighted to have secured these new blocks as India continues to offer
attractive exploration opportunities.'
Enquiries to:
Cairn Energy PLC:
Analysts
Bill Gammell, Chief Executive Tel: 0131 475 3000
Mike Watts, Exploration Director
Kevin Hart, Finance Director
Media
David Nisbet, Head of Group Communications
Brunswick Group LLP:
Patrick Handley, Mark Antelme Tel: 0207 404 5959
Notes to Editors:
• Cairn focuses its activities on the geographic region of South Asia. The
Group holds material exploration and production positions in west India,
east India and Bangladesh along with new exploration rights in northern
India and Nepal.
• This focus on South Asia for more than ten years has already resulted in
a significant number of oil and gas discoveries. In particular, the company
made a major oil discovery (Mangala) in Rajasthan in the north west of
India at the beginning of 2004.
• ONGC took up its option to acquire a 30% participating interest in the
Mangala and Aishwariya discoveries in January 2005. ONGC partners Cairn in
all its blocks in India.
• India currently imports approximately two million barrels of oil a day
(bopd). It produces 650,000 barrels a day itself of which 50,000 bopd comes
from the Cairn operated Ravva field.
For further information on Cairn see www.cairn-energy.plc.uk
There are matters discussed in this media information that are forward looking
statements. Such statements are only predictions and actual events or results
may differ materially. For a discussion of important factors which could cause
actual results to differ from the forward looking statements, refer to the
Company's annual report and accounts for the year ended 2004.
Blocks Awarded to Cairn under NELP V
This information is provided by RNS
The company news service from the London Stock Exchange
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