Cairn India IPO Details

Cairn Energy PLC is public oil and gas exploration and Production Company based in Edinburgh, Scotland.

Cairn India Limited is a newly incorporated Indian company and has been promoted by Cairn Energy PLC, a crude oil and natural gas exploration and production company trading on the main market of the London Stock Exchange. At the completion of the Reorganisation, the Company will acquire the Subsidiaries which hold all of the ownership and operated interests in Cairn Energy PLC’s Indian crude oil and natural gas development and production assets and the majority of its Indian crude oil and natural gas exploration assets. Upon the Company’s acquisition of the Subsidiaries, Cairn aim to be a leading participant in the Indian crude oil and natural gas industry. We estimate the total gross proved plus probable (2P) reserves attributable to the fields in production or under development in which Cairn India has interests to be 754 mmboe and its net working interest in these 2P reserves to be 472 mmboe. Most of the 2P reserves are estimated to be contained in the Rajasthan Block which is currently subject to significant appraisal and development activity. In addition to proved plus probable reserves, Cairn estimate the gross contingent resources attributable to these fields to be 414 mmboe. Outside of the Rajasthan Block Cairn estimate the total gross 2P reserves attributable to the fields in production or under development in which Cairn India has interests to be 122 mmboe and on a net working interest basis Cairn estimate these same reserves to be 30 mmboe. In addition, a further 157 mmboe of gross contingent resource has been identified in fields outside of Rajasthan, with most of this gross contingent resource (143 mmboe) estimated to be contained in the deep water Block KG-DWN-98/2.