Cairn India set for further expansion
CAIRN India was split from its Edinburgh-based parent to develop its major assets in Rajasthan, but now the Mumbai-based offshoot seems set to become an international player in its own right.
Cairn already holds some production in Bangladesh and exploration assets in nearby Sri Lanka, and unnamed executives have reportedly drawn up plans to expand further across Asia, in particular into Indonesia.
While developments are said to be at a preliminary stage, the board of Cairn India has had informal talks with majority owner Cairn Energy, deciding that any investment in the Asian region will be handled by the Indian business.
Cairn Energy has in recent months begun testing in Greenland and Tunisia. Cairn India expects to produce first oil from its Indian assets next year.
Shares in Cairn Energy leapt 12 per cent to 1,840p yesterday as crude prices rose.
Email to a friend
Print this page- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Paulo Sergio left in limbo as Vladimir Romanov flies out before party
- Scottish Cup final: The talk of the toon are the Hearts in maroon
- Abdelbaset Ali Mohmed al-Megrahi: The Lockerbie bomber is dead
- Rangers: Dave King claims ‘first option’ on Craig Whyte’s Ibrox shares
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Paulo Sergio left in limbo as Vladimir Romanov flies out before party
- Anti-bigotry law fails to protect England fans
- Scottish Cup final: The talk of the toon are the Hearts in maroon
- Brian Monteith: Phoney war is over, now the real battle begins
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Monday 21 May 2012
Today
Sunny spells
Temperature: 6 C to 15 C
Wind Speed: 10 mph
Wind direction: North east
Tomorrow
Sunny spells
Temperature: 10 C to 21 C
Wind Speed: 8 mph
Wind direction: North east
