Annual Report 2007 in PDF - Cairn Energy PLC

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CAPRICORN ASSETS after the IpO of Cairn India, the production asset of sangu in bangladesh was retained within Capricorn together with exploration acreage in bangladesh, nepal, India and papua new Guinea. through the acquisition of plectrum and medoil in 2007, capricorn added exploration assets in tunisia and, in addition, further assets in peru, albania, australia and the uk (west of shetland). in january 2008, capricorn announced that it had acquired operatorship of four hydrocarbon licences for offshore west greenland and interests in a further two blocks operated by encana. further licencing awards are pending in spain and sicily. 18 CAIRN ENERGY PLC ANNUAL REPORT 2007 peru Greenland Offshore exploration acreage Disko West Licensing Round 1. Exclusive Licence 2008/10 (Sigguk) 87.5% 2. Exclusive Licence 2008/11 (Eqqua) 87.5% Open door area 3. Exclusive Licence 2008/13 (Saqqamuit) 92% 4. Exclusive Licence 2008/14 (Kingittoq) 92% West Greenland 5. Exclusive Licence 2002/15 (Atammik) 40% 6. Exclusive Licence 2005/06 (Lady Franklin) 40% 1 2 6 5 4 3 Block Z-34 50%
uk (West Of shetland) Block 214/19 100% Block 214/20 100% tunIsIa spaIn Offshore exploration acreage Licence applications submitted sICIly albanIa Licence applications submitted 1. Nabeul Permit 50% 2. Louza Permit 100% Offshore exploration acreage banGladesh papua neW GuInea nepal Block Joni-5 100% 1 2 Currently in force majeure Blocks 1 & 2 100% Blocks 4, 6 & 7 100% Blocks 3 & 5** **awaiting government approval 100% Offshore gas and condensate production Onshore and offshore exploration Gross Production: 82.9mmscfd Block 5* 45% Block 7 45% Block 10* 45% Block 16 - Development Area 37.5% Block 16 - Exploration *see note in Principal Licence Interests page 71 37.5% 10* 5* 7 manpura haIta Block PRL-1 12.73% australIa 1 2 3* 4 5* 6 7 nOrthern IndIa Block GV-ONN-97/1 15% Block GV-ONN-2002/1 50% Block GV-ONN-2003/1 25% 16 maGnama sanGu Exploration Permit WA-379-P 100% Exploration Permit WA-380-P 100% CAIRN ENERGY PLC ANNUAL REPORT 2007 19
Page 1 and 2: ANNUAL REPORT & ACCOUNTS 2007 CAIRN
Page 3 and 4: CAIRN is an edinburgh based oil and
Page 5 and 6: CAIRN INDIA performance First comme
Page 7 and 8: 2000 lakshmi disCovery 2001 sarasWa
Page 9 and 10: THE RESTRUCTURING OF THE GROUP INTO
Page 11 and 12: ajasthan midstream the government o
Page 13 and 14: Cambay Basin, India CAIRN ENERGY PL
Page 15 and 16: Cairn india assets 30% 30% 49% 40%
Page 17 and 18: Rajasthan, India the increased reso
Page 19: Detail heading here relore min ullu
Page 23 and 24: nePal the security situation in nep
Page 25 and 26: angladesh reserves sangu gross 2p r
Page 27 and 28: activities in all operated blocks.
Page 29 and 30: 2007 marked the beginning of a new
Page 31 and 32: key financial performance indicator
Page 33 and 34: CAIRN INDIA CAPITAL EXPENDITURE FOR
Page 35 and 36: 3 9 12 4 8 1 Sir Bill Gammell, Chie
Page 37 and 38: 2007 ACCOUNTS Risk Factors 36 Corpo
Page 39 and 40: RISk FACTORS CONTINUED The developm
Page 41 and 42: RISk FACTORS CONTINUED Corporate Re
Page 43 and 44: CORPORATE GOVERNANCE STATEMENT CONT
Page 53 and 54: DIRECTORS’ REPORT CONTINUED At 31
Page 55 and 56: DIRECTORS’ REPORT CONTINUED Elect
Page 57 and 58: DIRECTORS’ REPORT CONTINUED Age o
Page 59 and 60: DIRECTORS’ REMUNERATION REPORT Re
Page 61 and 62: DIRECTORS’ REMUNERATION REPORT CO
Page 71 and 72:
INDEPENDENT AUDITOR’S REPORT TO T
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PRINCIPAL LICENCE INTERESTS ASIA In
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GROUP INCOME STATEMENT For the year
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BALANCE SHEETS As at 31 December 20
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NOTES TO THE ACCOUNTS For the year
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NOTES TO THE ACCOUNTS CONTINUED Net
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NOTES TO THE ACCOUNTS CONTINUED Cas
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NOTES TO THE ACCOUNTS CONTINUED No
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NOTES TO THE ACCOUNTS CONTINUED 2.
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NOTES TO THE ACCOUNTS CONTINUED Cas
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NOTES TO THE ACCOUNTS CONTINUED The
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NOTES TO THE ACCOUNTS CONTINUED (b)
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NOTES TO THE ACCOUNTS CONTINUED Und
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NOTES TO THE ACCOUNTS CONTINUED 200
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NOTES TO THE ACCOUNTS CONTINUED Emp
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NOTES TO THE ACCOUNTS CONTINUED (b)
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NOTES TO THE ACCOUNTS CONTINUED All
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NOTES TO THE ACCOUNTS CONTINUED Ten
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NOTES TO THE ACCOUNTS CONTINUED Sof
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NOTES TO THE ACCOUNTS CONTINUED Gro
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NOTES TO THE ACCOUNTS CONTINUED As
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NOTES TO THE ACCOUNTS CONTINUED At
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NOTES TO THE ACCOUNTS CONTINUED Num
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NOTES TO THE ACCOUNTS CONTINUED Oth
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NOTES TO THE ACCOUNTS CONTINUED Cai
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NOTES TO THE ACCOUNTS CONTINUED 34.
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RESERVES Direct Direct working enti
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NOTICE OF ANNUAL GENERAL MEETING No
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NOTICE OF ANNUAL GENERAL MEETING CO
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GLOSSARY OF TERMS CONTINUED TECHNIC
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