Cairn Energy

Cairn Energy PLC, listed on the FTSE 100, ISIN GB0032399312, is an international oil company. The company's headquarters is located in Edinburgh, Scotland. Cairn Energy was founded in 1988 by the rugby player Bill Gammell.

• 3.1 Notes and references

Operations

Cairn Energy manufactures and produces natural gas and crude oil in India, Bangladesh, Nepal, Greenland and Tunisia.

The 100-percent subsidiary Capricorn exploration works in Bangladesh, Nepal, Greenland, Tunisia, Albania and the future in Spain

Shift in focus from India to Greenland

After successfully connecting elements in India, the company began the first oil finder with two test drilling in Greenland in 2007. 2010, announced the discovery of natural gas in Greenland, which it interpreted as an indication of an oil deposits.

India: Cairn India

2006 Cairn outsourced its production in West and East India in the company of Cairn India Limited. The Indian subsidiary is listed on the Bombay Stock Exchange and the National Stock Exchange of India. Cairn Energy holds 69.9 percent of Cairn India. Currently, Cairn India promotes, according to Cairn Energy off the coast of India about 175,000 barrels of oil a day. The company now intends to part with a portion of its India business and sell 51 percent of its subsidiary Cairn India to the British mining company Vedanta Resources. That would free up money for drilling off the coast of Greenland.

Greenland

In August 2007 it was announced that the company had applied for licenses for two fields in Disko Bay in western Greenland and got this. Since that time, Cairn has invested $ 500 million and launched in the sea off Greenland's Arctic with holes in up to 500 meters depth for oil. 175 km off the west coast of Greenland in the so-called " grid square Sigguk " between the Disko Bay and the Canadian Baffin Island, the company found natural gas in 2010.

Criticism

Greenpeace criticized Cairn Energy have little experience with the Arctic and deepwater drilling. According to the Wall Street Journal, the company is a " wild boar " ( high profits, but hardly calculable risk for investors).

See conservation organizations through the holes of Greenland a tremendous threat to the ecosystem of the Arctic. To ensure the drilling platform, a high technical effort must be driven in order to prevent collisions with icebergs: Ships spray drift ice with hot water and tractor try the course of icebergs by towing use to ändern.Greenpeace sent his arctic going ship Esperanza to the activities on the drilling platform to monitor. In an accident such as a blowout at the Deepwater Horizon, the consequences would be much more devastating. Since the maritime area is covered by ice for half a year, a possible oil spill from the drilled holes from October to May can not be fought. At the inaccessible Greenland coasts, the oil can not be collected. In the cold water Greenland oil evaporates much more slowly than in the Gulf of Mexico.

Swell

• Clemens Bomsdorf, Kathrin Werner: Cairn weathered oil field off Greenland, in Financial Times Germany on 25 August 2010Vorlage: Web archive / Maintenance / Nummerierte_Parameter