(Preliminary Results Announcement) PDF 0.71MB - Cairn Energy PLC

5 Results for the Year5.1 Segmental AnalysisOperating SegmentsFor management purposes, the operations of the Cairn Group are organised based on geographical regions. TheCairn Group’s operations currently focus on new exploration activities in four key operating segments: North WestEurope – North Sea, Atlantic Margin – Greenland, Atlantic Margin – Morocco and the Mediterranean.Geographical regions may be combined into regional business units. Each business unit is headed by its own regionaldirector and management monitors the results of each separately for the purposes of making decisions about resourceallocation and performance assessment.North West Europe – North SeaThe corporate acquisitions in the year, with primary interests in the UK and Norwegian North Sea, provide Cairn with acore platform for growth from organic, near-term exploration, appraisal and development activities, ultimately leading tosustainable cash flow.Atlantic Margin - GreenlandCairn’s Greenland assets have been the focus of much of the Groups exploration activity in recent years. Furtherexploration drilling is planned in 2014 subject to the necessary approvals being received.OtherThe Atlantic Margin – Morocco and Mediterranean operating segments results have been combined into the “OtherCairn Energy” reportable segment together with the Group’s remain exploration and corporate assets.New exploration opportunities in Morocco have been added through corporate acquisitions and farm-in agreementsduring the year. Cairn’s presence in the Atlantic Margin has increased post year end with the Senegal farm-in.The discontinued operations of the Cairn India Group were a separate business unit up to the point of disposal in 2011.Geographical information: Non-current assets31 December 31 December20122011$m $mAtlantic Margin - Greenland 44.7 79.7North West Europe - North Sea 1,407.3 -Mediterranean 3.8 1.6Atlantic Margin - Morocco 2.4 -UK Corporate assets 4.7 2.21,462.9 83.5Non-current assets for this purpose consist of intangible exploration/appraisal assets; property, plant & equipment –development/producing assets; property, plant & equipment – other; and, intangible assets – other.28