Catcher update

The enclosed announcement has been reported by Premier Oil plc (Operator) with regards to the Catcher development in which Cairn has a 20% working interest.

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Catcher Update

NOTES TO EDITORS

Cairn is one of Europe's leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world.

Cairn’s business operations are focused on frontier exploration acreage in North West Europe, North West Africa and the North Atlantic, underpinned by interests in development assets in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway and Senegal. 

Cairn and Corporate Responsibility

• Cairn is a signatory to the UN Global Compact and our core values of respect, responsibility, relationships and our commitments towards people, the environment and society are enshrined in our Business Principles, which are available on the Cairn website at http://www.cairnenergy.com/index.asp?pageid=282
• Cairn became a participating company in the Extractive Industry Transparency Initiative (EITI) in September 2013. The EITI is a coalition of governments, companies and civil society, who have adopted a multi-stakeholder approach to applying the EITI global standard promoting transparency of payments in the oil, gas and mining sectors http://eiti.org/

For further information on Cairn please see: www.cairnenergy.com

PREMIER OIL PLC

(“Premier”)

Update on the Catcher development

23 October 2017

The BW Catcher Floating Production Storage and Offloading (“FPSO”) vessel arrived at the Catcher field at 23:00 on Wednesday 18th October. The hook up of the Submerged Turret Production (“STP”) buoy mooring system was completed on the 19th October with the vessel successfully completing a rotation test around the buoy on the 20th October. The final pull-in of the risers and umbilicals is now underway and commissioning activities have also commenced in parallel. Delivery of first oil remains on schedule by the end of the year.

A short presentation setting out the key milestones in the hook up and commissioning programme to be carried out in advance of first oil and the plans to ramp up to plateau production levels, is available on the Company’s website.