Cairn Energy
| Cairn Energy PLC
|
|
|---|---|
 |
|
| legal form | PLC |
| ISIN | GB00B74CDH82 |
| founding | 1988 |
| Seat |
Edinburgh , Scotland ,
|
| Branch | mineral oil |
| Website | www.cairnenergy.com |
Cairn Energy , listed on the FTSE 250 , is an international oil company. The company is headquartered in Edinburgh , Scotland . Cairn Energy was founded in 1988 by rugby player Bill Gammell .
Operations
Cairn Energy produces and extracts natural gas and oil in India , Bangladesh , Nepal , Greenland and Tunisia .
The 100 percent exploration subsidiary Capricorn works in Bangladesh, Nepal, Greenland, Tunisia, Senegal, Albania and in future in Spain .
Focus shift from India to Greenland
After successful developments in India, the company was the first oil explorer to start two test wells in Greenland in 2007. In 2010 it reported the discovery of natural gas in Greenland, which it interpreted as an indication of an oil deposit.
India: Cairn India
In 2006 Cairn outsourced its production in West and East India to Cairn India Limited . The Indian subsidiary is listed on the Bombay Stock Exchange and the National Stock Exchange of India . Cairn Energy owns 69.9 percent of Cairn India . Cairn India currently produces around 175,000 barrels of oil a day off the coast of India, according to Cairn Energy. The company now intends to divest part of its Indian business and to sell 51 percent of the shares in its subsidiary Cairn India to the British mining company Vedanta Resources . This would offer the opportunity to use the released funds for the drilling off the coast of Greenland.
Greenland
In August 2007 it was announced that the company had applied for and received licenses for two fields in Disko Bay in western Greenland . Since then, Cairn has invested $ 500 million and started drilling for oil up to 500 meters deep in the sea off the Greenland Arctic. In 2010, the company found natural gas 175 kilometers off the west coast of Greenland in the so-called "Sigguk grid square" between Disko Bay and Baffin Island in Canada.
criticism
Greenpeace criticizes that Cairn Energy has little experience with arctic and deep sea drilling. According to the Wall Street Journal , the company is a "wild boar", which is characterized by high profits, but hardly calculable risks for investors.
Nature conservation organizations see the drilling off Greenland as an enormous threat to the Arctic ecosystem. To secure the drilling platform, a high technical effort has to be made - for example to prevent collisions with icebergs : Ships spray drift ice with hot water and tugs try to change the course of icebergs by towing them. Greenpeace dispatched its arctic-ready ship Esperanza to monitor activities on the drilling platform. With a blowout like the Deepwater Horizon platform , the consequences would be much more devastating. Since the sea area is covered by ice for half a year, a possible oil leak from the drilled holes cannot be combated between October and May. In addition, oil cannot be collected on the inaccessible Greenland coasts. In addition, oil evaporates much more slowly in the cold water of Greenland than in the Gulf of Mexico.
literature
- Clemens Bomsdorf, Kathrin Werner: Cairn smells an oil field off Greenland . ( Memento from August 26, 2010 in the Internet Archive ) In: Financial Times Deutschland , August 25, 2010
Web links
Individual evidence
- ↑ Timeline ( Memento from December 23, 2011 in the Internet Archive ; PDF)
- ↑ Key Facts ( Memento of the original from June 25, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Greenlanders dream of great oil wealth . Welt Online , August 25, 2010
- ^ Protest against deep-sea drilling off Greenland . greenpeace.de
