Cairn acquires additional interest in the Kraken development (Scandinavian Oil-Gas Magazine)

Cairn acquires additional interest in the Kraken development

Published Feb 22, 2016

Cairn Energy through its wholly owned subsidiary, Nautical Petroleum Limited, has acquired an additional 4.5% interest in the Kraken development in the UK North Sea from First Oil plc bringing Cairn's total working interest to 29.5%.

Cairn and EnQuest PLC, the operator of the Kraken development, are both taking up First Oil's interests pro-rata to their holdings prior to the transaction. EnQuest's interests will increase to 70.5% following the transaction.

Tags: Cairn Energy PLC

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