Cairn Energy plans to drill nine exploration wells this year, as part of a $400m exploration campaign that will make 2014 the busiest year for the company in a
Cairn,
which made its name with a huge oil discovery in Rajasthan, saw its
reputation for exploration success dim after failing to find commercial
quantities of oil off the coast of
Greenland despite spending $1bn.
It is now hoping to restore its fortunes
with an ambitious drilling campaign in the so-called Atlantic Margin,
an area thought to have huge oil potential that stretches from west
Africa to the Atlantic west of Ireland.
Cairn said it would drill one well off the coast of Morocco, which
has become a big draw for oil majors such as BP and Chevron in recent
months, as well as two offshore Senegal and one off the coast of
Ireland. It would also take part in another, non-operated well being
drilled off Morocco by its partner Kosmos
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