Annual Report 2020
RESPONSIBLE. READY. REFOCUSED.
It’s always the right time to do the right thing. We continue to develop our responsible approach, ensuring the sustainability of our business and delivering our commitments to our stakeholders and the communities where we operate.
Fiscal discipline and financial flexibility. Active portfolio management has enabled return of cash to shareholders, whilst retaining the ability to invest through the cycle and expand and diversify our production base to support long-term value creation.
A balanced approach to exploration. A focus on ‘advantaged barrels’ targets attractive resources with optimised development timelines, scale and supportive fiscal environments, with strong alignment with our ESG priorities.
Net oil production averaged (bopd)
Oil and gas sales revenue (US$)
Net cash inflow (US$)
Year end Group cash (US$)
India arbitration award in Cairn’s favour of (US$)
Returned to shareholders from Senegal proceeds (US$)
Exploration activity, including seismic surveying and drilling, can create material value.
Moving exploration success into development, or acquiring development assets, adds value.
Progressing development assets into production results in cash flow to reinvest or return to shareholders, realises value.
Our key strategic goals are all about driving shorter investment cycles and ensuring low break-even costs across our asset base.
Cairn’s business model is to hold assets within the oil and gas life cycle in order to create, add and deliver value for stakeholders.