Cairn completes Catcher farm-out

Cairn Energy has completed a farm to Dyas UK, comprising a 10% interest in the Premier Oil-operated Catcher development and adjacent acreage in the UK North Sea.

In return for the 10% stake, Dyas will carry Cairn’s exploration and development costs up to a cap of US$182 million, effective 1 January 2014. The Catcher development, which comprises an FPSO and subsea infrastructure, is on track for first oil from 2017.

As a result of the transaction, Cairn has reduced its forward capital expenditure to the end of 2017 by about $380 million.  Cairn retains a 20% working interest in the Catcher license.

 

Current News

ScottishPower, Oasis Marine Study Proves Feasibility of Offshore Charging

ScottishPower, Oasis Marine St

Africa Energy Aims to Start Production in South Africa by 2033

Africa Energy Aims to Start Pr

Repsol Hires Halliburton for Well Lifecycle Optimization of North Sea Assets

Repsol Hires Halliburton for W

Aquaterra Energy to Deliver Well Services Work for North Sea CCS Project

Aquaterra Energy to Deliver We

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine