Bangladesh: Cairn Energy Completes Seismic Survey In Bengal Bay

Cairn Energy and partner Santos have completed a 200-sq km (77-sq mi) 3D seismic survey over the Magnam discovery in the Bay of Bengal offshore Bangladesh.

They have also acquired a second 3D survey of around 100 sq km (38.6 sq mi) over part of the Sangu gas field and the South Sangu discovery.

Both data-sets will be analyzed to identify exploration, appraisal, and production drilling targets for a potential campaign late this year/early in 2011.

The Sangu gas field, in production since 1998, is in decline. In April, the partners executed a successful well intervention program, and a further campaign is planned this fall to maintain or increase output from the Sangu wells.

*Cairn is focused on its significant production growth for Rajasthan in northern India and its material frontier exploration position in Greenland.

*Edinburgh-based company with two main subsidiaries. Cairn Energy PLC (“Cairn”) is an oil and gas exploration and production company based in Edinburgh, with operational offices in Dhaka, Chittagong, Kathmandu, and Tunis. Cairn is listed on the London Stock Exchange. Following the IPO of Cairn India in January 2007, Cairn now has two main subsidiaries – Cairn India and Capricorn Oil.

*Cairn owns a 62.39% interest in Cairn India. Cairn India Limited (“Cairn India”) is listed on the Bombay Stock Exchange and the National Stock Exchange of India. Its interests include 13 acreage blocks in India and Sri Lanka. Cairn India is based in Gurgaon, on the outskirts of Delhi. It also has offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.

*Cairn owns Capricorn, a non-listed subsidiary. Capricorn Oil Limited (“Capricorn”) focuses on exploration. Capricorn has assets in Bangladesh, Nepal, Northern India, Greenland, Tunisia, Albania and licence awards pending in Spain. Cairn also has a non-operated interest offshore Papua New Guinea.

* Cairn’s interest in South Asia has resulted in more than 40 oil and gas discoveries. In particular, Cairn made a major oil discovery (Mangala) in Rajasthan in Northwest India in 2004. Cairn has now made more than 20 discoveries in Rajasthan Block RJ-ON-90/1.

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Source:Cairnenergy , May 25, 2010;